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T.C.C.B. Annual Report 2015

Jul 7, 2016

52197_rns_2016-07-07_924a4df2-4ef4-4100-9b9a-f3e187844aca.pdf

Annual Report

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2015

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Taichung Commercial Bank Company Limited

Address:No. 87, Min Chuan Road, Taichung, Taiwan, R.O.C. Tel.:(04)2223-6021

Website: http://www.tcbbank.com.tw

Company Spokesman

Name: Chi-Chuan Fang Job title: Executive Vice President Tel.:(04)2223-6021 Email:[email protected]

Acting Spokesman

Name: Hsueh-Hsuan Liao Job title: Executive Vice President Tel.:(04)2223-6021 Email:[email protected]

Shares Registrar

Name: by internal function Address:11F., No. 50, Sec. 1, XinSheng South Road, ZhongZheng District, Taipei, Taiwan, R.O.C. Website: http://www.tcbbank.com.tw Tel.:(02)2395-7388

Credit Rating Agency

Name: Fitch Australia Pty Ltd, Taiwan Branch Address: Suite 1306, 13F., No. 205, Tun Hwa N. Road, Taipei, Tawian, R.O.C. Tel.:(02)8175-7600

External Auditors in the Most Recent Year

Name of CPA firm: Deloitte & Touche Name of CPA: Wen-Ya Hsu & Kuan-Chung Lai Address:12F., No. 156, MinSheng East Road, Sec. 3, Song Shan District, Taipei, Taiwan, R.O.C. Website: http://www.deloitte.com.tw Tel.:(02)2545-9988

Name of any exchanges where the Company's securities are traded overseas, and the method by which to access information on said offshore securities : None

Index

Index Index
ONE. MESSAGE TO THE SHAREHOLDERS .................................................................................................................. 1
**TWO. ** A PROFILE OF TAICHUNG BANK ..................................................................................................................... 5
THREE.CORPORATE GOVERNANCE REPORT ........................................................................................................... 6
I. ORGANIZATIONSYSTEM.............................................................................................................................................. 6
II. PROFILES OFDIRECTORS, PRESIDENT, EXECUTIVEVICEPRESIDENTS, ASST. VP,AND SUPERVISORS OF THE VARIOUS
DEPARTMENTS AND BRANCHES.................................................................................................................................... 9
III. REMUNERATION TODIRECTORS, PRESIDENT ANDEXECUTIVEVICEPRESIDENTS,AND ALLOCATION OF
REMUNERATION TO EMPLOYEES IN THE MOST RECENT YEAR..................................................................................... 22
IV. THESTATUS OFCORPORATEGOVERNANCE.............................................................................................................. 27
V. DISCLOSURE OF THE ACCOUNTANT’S FEE.................................................................................................................. 41
VI. CHANGES OFACCOUNTANTS: THE REPLACEMENT OF ACCOUNTANT IN THE LAST TWO YEARS WAS DUE TO THE
INTERNAL ROTATION OF THECPA FIRM...................................................................................................................... 42
VII. THE CHAIRMAN,PRESIDENT,CHIEF FINANCIAL OR ACCOUNTING MANAGER OF THEBANK WHO HOLDS POSITION IN
THE BUSINESS UNDER THE COMMISSIONEDCPAFIRM OR ITS AFFILIATES................................................................... 42
VIII. IN THE MOST RECENT YEAR TO THE DATE THIS REPORT WAS PRINTED, DIRECTORS,MANAGERS,AND THE PARTIES
STATED INARTICLE11OF THEREGULATIONSGOVERNING THEPERCENTAGE OFHOLDING OFVOTINGSHARES
ISSUED BYPARTICULARBANK BYPARTICULARPERSON ORPARTICULARRELATEDPARTY THAT REQUIRED THE
DECLARATION OF THE HOLDING OF EQUITY SHARES IN THE TRANSFER OF SHARES OR PLEDGE OF SHARES UNDER LIEN,
AND ANY CHANGE THEREOF....................................................................................................................................... 42
IX. INFORMATION ON SHAREHOLDERS AMONG THE TOP10BY PROPORTION OF SHAREHOLDING WHO ARE STAKEHOLDERS
TO ONE ANOTHER OR SPOUSE,KINDRED WITHIN THE2NDTIER UNDER THECIVILCODE.............................................. 47
X. QUANTITY OF SHAREHOLDINGS OF THE SAME INVESTEE BY THEBANK AND DIRECTORS,PRESIDENTS, EXECUTIVE
VICEPRESIDENTS, ASST. EXECUTIVEVICEPRESIDENTS,SUPERVISORS OF THE VARIOUS DEPARTMENTS AND
BRANCHES,AND DIRECT OR INDIRECT SUBSIDIARIES IN PROPORTION TO THE COMBINED HOLDINGS........................... 48
FOUR. STATUS OF CAPITAL PLANNING .................................................................................................................... 49
I. SHARES ANDDIVIDENDS............................................................................................................................................ 49
II. ISSUANCE OFFINANCIALBONDS................................................................................................................................ 53
III. NO PREFERRED SHARE,OVERSEAS DEPOSITORY RECEIPT,EMPLOYEE STOCK OPTIONS,AND MERGERS AND
ACQUISITIONS OR ACCEPTANCE OF THE ASSIGNED INSTRUMENTS FROM OTHER FINANCIAL INSTITUTIONS................. 58
IV. IMPLEMENTATION OFFUND UTILIZATION PLAN......................................................................................................... 58
FIVE. OPERATION PROFILE .......................................................................................................................................... 59
I. BUSINESSCONTENTS................................................................................................................................................. 59
II. EMPLOYEES............................................................................................................................................................... 70
III. ENTERPRISERESPONSIBILITIES ANDETHICALBEHAVIOR.......................................................................................... 72
IV. NUMBER OF NON-EXECUTIVE BANKING STAFF,AVERAGE FRINGE BENEFIT OF EMPLOYEE IN THE YEAR AND THE
DIFFERENCE FROM THE PREVIOUS YEAR..................................................................................................................... 73
V. IT EQUIPMENT........................................................................................................................................................... 73
VI. LABOR-MANAGEMENTRELATIONS........................................................................................................................... 76
VII. NO LOSS OR COMPENSATION FOR THE TIME BEING..................................................................................................... 77
VIII. SECURITIZED PRODUCTS AND RELATED INFORMATION.............................................................................................. 77
SIX. FINANCIAL STATUS................................................................................................................................................. 78
I. THE CONSOLIDATED BALANCE SHEET AND COMPREHENSIVE INCOME STATEMENT WITHIN THE LAST FIVE YEARS-
INTERNATIONALFINANCIALREPORTINGSTANDARDS(IFRS).................................................................................... 78
II. BALANCESHEET ANDINCOMESTATEMENT FROM THE MOST RECENT YEARS– R.O.C. GAAP................................... 82
III. FINANCIALANALYSIS FOR THE MOST RECENT FIVE YEARS......................................................................................... 85
IV. AUDITCOMMITTEE’ REVIEWREPORT ON THEFINANCIALSTATEMENT OF2015......................................................... 94
V. CONSOLIDATED FINANCIAL STATEMENTS2015........................................................................................................... 94
VI. FINANCIAL STATEMENTS2015.................................................................................................................................... 94
VII. IN THE CASE OF ANY INSOLVENCY OF THEBANK AND ITS AFFILIATES......................................................................... 94
SEVEN. REVIEW AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS, AND RISK
MANAGEMENT MATTERS ................................................................................................................................ 95
I. FINANCIALANALYSIS................................................................................................................................................. 95
II. FINANCIALPERFORMANCEANALYSIS........................................................................................................................ 96
III. CASH FLOW................................................................................................................................................................ 96
IV. THE MATERIAL EFFECT ON FINANCIAL STRUCTURE FROM SUBSTANTIAL CAPITAL EXPENDITURE IN THE LAST FEW
YEARS........................................................................................................................................................................ 98
V. DIRECT INVESTMENT POLICY,THE MAIN REASONS FOR PROFIT OR LOSS,AND CORRECTIVE ACTION PLAN IN THE MOST
RECENT YEAR,AND INVESTMENT PLAN IN THE NEXT YEAR....................................................................................... 100
VI. RISKMANAGEMENT................................................................................................................................................ 101
VII. CRISIS MANAGEMENT MECHANISM.......................................................................................................................... 108
VIII. OTHER IMPORTANT NOTES........................................................................................................................................ 108
EIGHT. SPECIAL NOTES ............................................................................................................................................... 109
I. INFORMATION REGARDING THE BANK’S SUBSIDIARIES............................................................................................. 109
II. IN THE MOST RECENT YEAR TO THE DATE THIS REPORT WAS PRINTED,PRIVATE PLACEMENT OF SECURITIES AND
BANK DEBENTURES.................................................................................................................................................. 114
III. IN THE MOST RECENT YEAR TO THE DATE THIS REPORT WAS PRINTED,THE HOLDING OR DISPOSITION OF THE SHARES
OF THEBANK HELD BY THE SUBSIDIARIES............................................................................................................... 114
IV. OTHERSUPPLEMENTARYDISCLOSURE: NONE......................................................................................................... 114
V. THE OCCURRENCE OF EVENTS AS STATED INARTICLE36-3-(2)OF THESECURITIES ANDEXCHANGEACT IN
THE PREVIOUS YEAR TO THE DATE THIS REPORT WAS PRINTED AND THE INFLUENCE ON SHAREHOLDERS’EQUITY OR
STOCK PRICE............................................................................................................................................................ 114
NINE. BRANCHES OF TAICHUNG COMMERCIAL BANK AT A GLANCE ........................................................ 115

One. Message to the Shareholders

  • I. Business result in 2015

  • (I) Domestic and foreign financial environment

Global economic performance in 2015 was moderate. However, the rise in interest rates in the US and the sustained QE policy in Japan and the Euro Zone hampered the performance of the global money market. Furthermore, the depreciation of the RMB triggered the depreciations of the currencies in many newly emerged economies. It was echoed with the continued decline of international oil price. The result is turbulence in international stock markets. As such, the economic outlook worldwide is clouded with uncertainties. The slowdown of economic growth in Taiwan compelled the Central Bank to cut interest rate. In early 2016, prominent economic forecasting institutions are still cautious in their points of view, but they tended to be positive about the economic recovery in the US, Japan, and the EU. With the intensification of competition across the straits in industry and international trade, the Directorate-General of Budget, Accounting and Statistics of Executive Yuan hold conservative view about the economic outlook of the year and projected economic growth at only 1.47%.

  • (II) Changes in organization

  • The Bank established the “Consumer Banking Department” in November 2015 with a view to the reinforcement of the foundation for the development of its core business and the size of private banking to speed up the expansion in the territory of consumer banking.

  • The “Treasury Marketing Department” was established in December 2015 aiming at the development of financial products and services and the financial investment market to satisfy the institutional investors and corporate accounts in flexible asset allocation.

  • (III) Operating result of business plans and strategies

  • In 2015, TCB had corporate earnings amounting to NTD 3.477 billion with ROE at 9.19%. Total assets amounted to NTD 575.631 billion, which indicated growth of NTD 45.58 billion from the same period of the previous year.

  • TCB has planned to further refine the professional division of labor among the sale personnel and business in order to build up a professional marketing model. This is the response to the significant change in market environment and meeting the needs of business expansion for a wider array of income sources to the Bank. In concrete term, the Bank will fortify the strength of its front line staff and related operation personnel with focus on the development of relevant functional areas of banking.

  • Under “the Project of Facilitation of Financing for Small and Medium Enterprises by Domestic Banks” (8[th] Term), the Bank was conferred the award of Balanced Regional Development in Financing Small and Medium Enterprises. With the incentives provided, the Bank adjusted its existing channels by establishing the Datong Branch, so that there are total 11 branches in Greater Taipei Area. With this network, the services across the country could be better developed.

  • In 2015, asset quality of the Bank met the regulatory standard of the competent authority under the cautious risk management and lending policies of the Bank, including the ratio of the provision of Class I loan asset, NPL rate, and capital adequacy ratio. With strict discipline for the regulation of trade and a viable system for risk control, the Bank can maintain stability and vitality in the position of financial assets and overall financial position.

  • From 2015 onward, the Bank started to offer the “LOHAS Retirement Trust” to meet the needs of the aging society and declining birth rate. This program also aims at the caring of the social misfortunes and is the support to the advocacy of the Financial

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Supervisory Commission (FSC) in launching the “Trust Service for the Elderly and the Handicapped”. Through the function of trust, the elderly and the handicapped could have the peace of mind over their property and care. This is the manifestation of corporate social responsibility of the Bank.

  1. The Taichung Commercial Bank Leasing (Suzhou) Ltd. has established 2 branches in Zhengzhou and Changsha, respectively. These branches connected the locations at Suzhou, Xiamen, and Chengdu and expanded the business territory of leasing and financial to Mainland China.

  2. (IV) Budget execution in December 2015

  3. The average deposit balance (including foreign currency) amounted to NTD 501.996 billion. The budget achievement rate was 107.23%, representing 10.91% growth from the NTD 452.625 billion in December 2014.

  4. The average loan balance (including foreign currencies but excluding bank guarantee and acceptance) amounted to NTD 392.674 billion, an increase of 1.67% or NTD 6.435 billion from December of 2014.

  5. Foreign currency deposits amounted to US$1.220 billion. The budget achievement rate was 106.42%, representing 28.58% growth from the US$0.949 billion in December 2014.

  6. Wealth management service fees amounted to NTD 1.805 billion in 2015, representing 3.56% growth from the NTD 1.743 billion in 2014.

  7. (V) Financial income and expenditure, and profitability analysis

  8. In 2015, the consolidated earnings before taxation amounted to NTD 4.13656 million and the consolidated corporate earnings amounted to NTD 3.47703 million. Earnings per share after taxation are NTD 1.14. The EPS of the Bank has been higher than NTD 1 for 4 consecutive years.

  9. KPI: Key Performance Indicator

Indicators 2015
Capital adequacy ratio (BIS) 11.94%
Return on Assets (ROA) 0.63%
Return on Equity (ROE) 9.19%
Earnings Per Share (EPS) NTD 1.14
NPL ratio 0.33%
Coverage ratio 475.41%

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  1. Information about the most recent credit rating
Rating agency Date of rating
Credit rating
Long-term Short-term Outlook
Fitch Rating Taiwan 2015.9.25 A-(twn) F2(twn) Stable

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(VI) R&D

FSC launched the “Digital Banking 3.0” whereby 12 items of online business were offered, including know-your-customer (KYC), investment risk attribute test, and trust referral statement of consent. TCB has fully launched the business in October 2015 with the gravity in upgrading customer service. The Bank will continue its blueprint in the development of digital banking, from innovative Internet banking service, financial big data analysis and application, and the prevailing use of mobile payment application to help to keep abreast of the trend of digital development and upgrading the competitive power.

  • II. Effect of external competitive environment, laws & regulations and entire business environment

  • (I) The Bank has made its policies in fortifying anti-money laundering and fighting the financing of terrorism, and building up a viable system for internal control and internal audit in accordance with the “Directions Governing Anti-Money Laundering and Countering Terrorism Financing of Banking Sector” promulgated by Financial Supervisory Commission. This policy will help to bolster the regulatory effort for the effective control of the risk deriving from money laundering and financing terrorism of the customers.

  • (II) The Bank values the protection of financial consumers by taking positive action thereby established the “Best Practice Principle for Equal Treatment of Customers in Banking Service” in accordance with the requirement of the competent authority. Under these principles, the Bank will give fair and reasonable treatment of all financial consumers in the overall transactions of banking services and products.

III. Future development strategies

In 2016, the Bank will continue its business principles of “Stable Growth in Volume with More Profit” and “Advancement in Stable Paces” to enlarge the asset size of the Bank through stable paces. With firm establishment in Taiwan, the Bank will expand in Asia-Pacific and satisfy the needs of Taiwan business in the trend of “globalization”. Business development will be launched in the areas of “corporate banking”, “consumer banking”, “wealth management” and “TMU” operation as the core portion for profit growth.

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IV. Summary of business plan 2016

  • (I) Bolster the core business of foreign exchange, TMU, wealth management and consumer banking. The Bank has a solid foundation in corporate banking, and will make use of this advantage to further develop foreign exchange and reduce the cost of capital. In addition, the Bank will also advocate TMU and wealth management for more commission incomes. The development of small-cap line of credit and micro enterprises financing will help to improve interest spread in loans. These will contribute to the increase of incomes from interest and non-interest sources.

  • (II) Develop and launch new products to fortify the competitive power in wealth management. Expand the team of wealth management and train good people for higher professional standing so as to strength the management of channels and bring momentum to the operations of the branches.

  • (III) Establish more designated banking location for foreign exchange business and fortify the overall banking service function to satisfy the needs of the customers in global capital management and trade financing. The Bank will continue to establish more branches running designated foreign exchange business in full-range.

  • (IV) Continue to optimize the service of digital banks and fortify the function of services through virtual channels. In the wake of the development of digital banking, the Bank seeks to develop eCommerce and mobile payment business and better business opportunities from online capital flow and commission income.

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  • (V) Adjust the allocation and structure of assets and liabilities and pursue proper risk management policies to maintain “capital adequacy ratio” as the primary goal basing on which the Bank will allocate its resources to deposits, loans, and investment. The Bank also adopts the mindset of risk offsetting, monitoring of market risk and change in asset quality, efficient use of capital and reasonable use of return for the improvement of management quality in the operation.

  • (VI) The Bank will demonstrate its strength given by its advantage in diversified operation, and reinforce cooperation for the promotion of multilateral financial services. With an edge of organizational structure of the parent firm and the collaboration among the branches in promotion, the Bank emphasizes the internal inter-selling system with the availability of insurance, investment trust, securities and leasing service to the customers under “one-stop shopping”. Through the CRM system, the Bank could develop more business opportunities and further cultivate the business transactions with preferred customers.

  • (VII)Expected business objectives

Scope of business Targets of December 2016
Deposits (including foreign
currencies)		 Average balance amounted to NTD 520.137
billion.
Lending (including foreign
currencies)		 Average balance amounted to NTD 423.696
billion.
Foreign Exchanges Operations Annual amount USD 15.85 billion

2016 is the year of hope and challenge. The Bank will provide service to the public under the spirit of " We Do Our Best For You” with the concern for corporate social responsibility. In addition to customer service, profit growth, and capital management, the Bank also seeks to provide a diversity of services to the needs and dynamics of the customers and to upgrade customer satisfaction, bolster competitive power in market, and its corporate image. These will be essential for creating investment value for the shareholders and is the gratitude to all shareholders for their support and encouragement.

Best regards,

To All Shareholders

May I wish you all good health and good luck.

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President____Chairman____
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Two. A profile of Taichung Bank

  • I. Date of establishment and history

Formerly a cooperative savings company in Taichung established in April 1953, the predecessor of Taichung Bank started its operation in savings and loans in August 1st of the same year. The scope of business then covered Taichung City, Taichung County, Chang Hwa County and Nantou County. In 1978, the Bank was reorganized as the “Taichung Small and Medium Business Bank” in responding to the promulgation of the Bank Act and business development needs. On May 15 1984, the Bank publicly offered its shares at the centralized market for broaden the base of operation and public participation in equity. Since then, the Bank has laid down a solid foundation for development in the future.

In September 1995, the Taipei Branch was established with business covering different districts, which set a new milestone of the operation of the Bank. The Bank continued to relocate its branches, which were previously located in central Taiwan, to northern and southern Taiwan. After this process of expansion, the Bank has banking locations across western Taiwan. Since then, the Bank has emerged as a national commercial bank. The Datong Branch was established in June 2015, which was the eleven business station in Taipei Metropolitan. Fuxing Branch operates in Taipei City, the economic hub of Taiwan that helps make the financial core services market even more comprehensive and improve the operational value of channels.

The capital of the Bank has increased from NTD 500,000 at its initial stage of operation to NTD 31.84 billion as of December 31, 2015. The Bank also expanded to 80 branches and 1 OBU from 5 branches at the time of its establishment. For the upgrade of the competitive advantage in “local banking”, “SME financing”, “diversified banking”, the Bank has invested to established the “Taichung Bank Insurance Brokers Co., Ltd.”, “Taichung Bank Leasing Co., Ltd.”, “Taichung Commercial Bank Leasing (Suzhou) Ltd.”, and “Taichung Commercial Bank Securities Co., Ltd.”, which in turn jointly invested to establish the “Reliance Securities Investment Trust Co., Ltd.” so as to build up the framework of financial holding operation for the accomplishment of the mission of sustainable corporate development and for the vision of establishing overseas business territories. The scope and volume of business of the Bank multiplied over the years. The variety and size of the operation far exceeded that at the time of its establishment as a cooperative saving company. The achievement was the feedback of the whole-hearted operation of the Bank. The growth and the excellence in operation of Taichung Commercial Bank have been witnessed by the public.

  • II. Mergers and acquisitions of banks, direct investment or reorganization of affiliates in the most recent year to the date this report was printed:

No mergers and acquisitions or reorganization of the Bank: The Bank has made direct investment in 5 affiliates and all are wholly owned subsidiaries to the Bank, including “Taichung Bank Insurance Brokers Co., Ltd.”, “Taichung Commercial Bank Securities Co., Ltd.”, and “Taichung Bank Leasing Co., Ltd.”, and the wholly owned subsidiary of “TCCBL Co., Ltd.” and the “Taichung Commercial Bank Leasing (Suzhou) Ltd.” of “Taichung Bank Leasing Co., Ltd.”

  • III. Subordination to particular financial holding company: None.

  • IV. Any massive transfer or replacement of equity by directors or as required for declaration under Article 25-III of the Banking Act in the most recent year to the date this report was printed: None.

  • V. Change in the management, mode of operation, or significant change in the content of business and any other that significantly affected the equity of shareholders: None.

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Three. Corporate Governance Report

  • I. Organization System

  • (I) Organizational Structure

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Shareholder's Meeting
Audit Committee
Board of Directors
Remuneration Committee
Risk Management
General Manager Office
Committee Board of Managing Directors
Asset and Liability Management
Committee
Chairman Trust Assess Assessment
Committee
Loan Supervision Committee
Vice Chairman
Personal Appraisal Cum
Evaluation Committee
President Investment Committee Chief
Auditor
Financial Products Review
Executive Vice President Committee
NPL Management Committee
District
Center
Business location (including Business Dept.)
the Board Auditing Office of Directors Office of the Board of
Loan Administration Dept. Treasury Marketing Dept. Consumer Banking Dept. Legal & Compliance Dept. Asset Recovery Dept of Debt Collection and Wealth Management Dept. Corporate Finance Dept. Accounting Dept. Human Resources Dept. General Affairs Dept. Treasury Dept. Risk Management Dept. Information Dept. Trust Dept. Overseas Banking Branch International Banking Dept. Business Dept.
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  • (II) Function of major segments

  • Auditing Office of the Board:

Administer the general auditing of the Bank, including operation audit, computer information audit, internal self-audit, internal audit, corrective actions as per the requests of competent authority, and related reporting.

  1. Office of the Board of Directors:

Call for sessions and elections of the Standing Committee of the Board, the Board of Directors and Audit Committee, General Meeting of the Shareholders, shares registration and related matters, public relations, press release.

  1. General Manager Office:

Assist the General Manager to map out the corporate strategy and business plan of the Bank, supervise the pursuit of channel development strategy and keep track with review on the budget settlement of each year.

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4. Business Development Dept.:

Administer the design and pursuit of corporate strategy and business development plans, administer the planning, implementation, supervision, evaluation of deposit, remittances, and eCommerce, and the study of banking in practice, interpret and advocate the financial policy of the government.

  1. International Banking Dept.:

Administer the planning, promotion, management and operation of foreign exchanges.

6. Trust Dept.:

Administer the planning, management and operation of trust business.

7. Information Dept.:

Administer the planning, configuration and operation of IT system and banking information package software.

8. Risk Management Dept.:

Administer the draft of the Bank’s overall risk management policies, the planning of risk strategies and risk control mechanism, the monitoring and control of the business risk exposures and other risk management related matters.

  1. Treasury Dept.:

Administer the appropriation of funds and investments of the whole bank and other financial matters.

10. General Affairs Dept.:

Administer the articles of incorporation, organization, important documents and corporate seals, business affairs, cashier service, general purchase, custody of assets, procurement and lease of real properties, improvement and repair of properties, and labor safety & health issues, security protection drill and management and supervision, property insurance, and any matters other than those administered by the other departments/offices.

11. Human Resource Dept.:

Administer human resources management and review, and employee welfare, and also administer employee continuing education and training.

12. Accounting Dept.:

Administer accounting affairs, management accounting, internal audit, and inter-branch transactions.

13. Corporate Finance Dept.:

Administer the corporate finance, factoring, syndicated loans, and financing in overseas investment for Taiwanese enterprises.

14. Wealth Management Dept.:

Administer the planning and execution of the financial planning businesses throughout the bank, management of financial planning staff, preparation and revision of the wealth management policy and operating procedure, and promotion, supervision and management of wealth management customers’ investment in the financial planning business.

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15. Loan Administration Dept.:

The planning, review, management of lending and credit information background check, the survey and compilation of statistics, study, analysis, and consultation service of the financial market.

  1. Department of Debt Collection and Asset Recovery:

Administer the precautionary and review after granting loan, and planning, executing, supervision and statistic analysis of the collection of delinquent accounts, performance appraisal of the collection, review of writing off non-performing loans, examination and management of Collaterals Assumed.

  1. Legal & Compliance Dept.:

The design, management, implementation of law and compliance system, and the participation, assistance, and outsourcing of legal services from external law firms.

  1. Consumer Banking Dept.:

Administer the planning and management, review and approval, marketing and promotion of consumer banking and credit card business, and the customer telephone service hotline, collection, marketing, and CRM.

  1. Treasury Marketing Dept.:

Administer the design of financial derivatives and marketing planning of new financial products and market development.

  1. Business Dept.:

Administer the operation of different types of deposits, loans, foreign exchange settlements and banking matters.

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(I)
Profiles of Directors
1. Directors Information
February 29, 2016
Other Chief,
Supervisors or
Directors with a
Spousal or Other
Immediate Relative		 Relation - - - - None
Name - - - - None
Title - - - - None
Current Bank & Other
positions		 - - - - None
Major (academic
degree) experience
 - - - -
Vice President,
Taiwan Business
Bank; President,
Taichung
Commercial Bank;
MBA, National
Taiwan University
College of
Management
Shareholding under
the title of a third
party
Ratio of
Shareholding
%
0
0
0
0
0

Quantity
0
0
0
0
0
Current Shares Held
by Spouse &
Dependents
Ratio of
Shareholding
%
0
0
0
0
0.00

Quantity
0
0
0
0
22,677
Current shareholding Ratio of
Shareholding
%
1.32
5.79
0.57
0.05
0.02

Quantity		 42,005,217 184,361,307 18,016,668
1,691,055
602,543

Shares at Election		 Ratio of
Shareholding
%
0.33
5.86
0.59
0.06
0.02
Quantity 8,944,236 157,823,593 15,995,167 1,501,317 546,053
Inauguration
date		 2014/6/19 2002/5/17 2008/6/13 2011/6/22 2015/6/17

Duration		 3 years 3 years 3 years 3 years 3 years
Election
(Appointment)
Date		 2014/6/19 2014/6/19 2014/6/19 2014/6/19 2014/6/19

Name		 Hsu Tian
Investment
Co., Ltd.		 Pan Asia
Chemical
Corporation		 I Joung
Investment
Co., Ltd.		 Ho Yang
Management
Consultant
Co., Ltd.		 Hsu Tian
Investment
Co., Ltd.
Representative:
Chun-Sheng Lee
Nationality
or place of
registration		 Taiwan
R.O.C.		 Taiwan
R.O.C.		 Taiwan
R.O.C.		 Taiwan
R.O.C.		 Taiwan
R.O.C.
Title Institutional
Director		 Institutional
Director		 Institutional
Director		 Institutional
Director		 Chairman

9

Other Chief,
Supervisors or
Directors with a
Spousal or Other
Immediate Relative		 Relation None None None
Name None None None
Title
None
None		 None
Current Bank & Other
positions		 Director, Tai Yi Investment
Co., Ltd.; Director, Chou
Chin Industrial Co., Ltd.;
Director, Chung Chien
Investment Co., Ltd.;
Director, Nan
Chung Petrochemical
Corp.; Director, Sheng Jen
Knitted Textiles Co., Ltd.;
Director, Ta Yi
Development Co., Ltd.;
Director, Ge Ling Co., Ltd.;
Chairman, Pan Asia
Chemical Corporation;
Chairman, Deh Hsing
Investment Co., Ltd.;
Director, Chou Chang
Co., Ltd.; Supervisor, Hsu
Tian Investment Co., Ltd.;
Director, Pan Asia
Investment Co., Ltd.;
Director, Je Mi Fang
Corporation; Director, Deh
Hsing Investment Co., Ltd.;
Chairman, Taichung Bank
Insurance Brokers
Co., Ltd.; Director
and President, China
Man-Made Fiber
Corporation; Director, Ta Fa
Investment Co., Ltd.		 President, Taichung
Commercial Bank; Director,
The Great Taipei Gas
Corporation		 Supervisor, Huang Hsiang
Construction Corporation;
Chairman, Hanshin
Management Consultant
Co., Ltd.; Director,
Taichung Bank Leasing
Co., Ltd.; Director, Guo
Yang Co., Ltd.
Major (academic
degree) experience
VP, Corporate
Financing Dept.,
BNP Paribas Hong
Kong; MBA of
NYU
President, Shin
Kong Commercial
Bank Co., Ltd.;
Vice President,
Mega International
Commercial Bank
Co., Ltd.;
Department of
Economics, Tung
Hai University
Chairman of
Taiwan Financial
Holdings; Dept of
International
Trade, National
Chengchi
University
Shareholding under
the title of a third
party
Ratio of
Shareholding
%
0
0
0

Quantity
0
0
0
Current Shares Held
by Spouse &
Dependents
Ratio of
Shareholding
%
0
0
0

Quantity
0
0
0
Current shareholding Ratio of
Shareholding
%
0.01
0.02
0

Quantity
359,718
666,725
0

Shares at Election		 Ratio of
Shareholding
%
0.01
0
0
Quantity 277,718 0 0
Inauguration
date		 2005/8/31 2015/6/17 2008/7/31

Duration		 3 years 3 years 3 years
Election
(Appointment)
Date
2014/6/19		 2014/6/19 2014/6/19
Name Hsu Tian
Investment
Co., Ltd.
Representative:
Kuei-Fong Wang		 Hsu Tian
Investment
Co., Ltd.
Representative:
Chin-Yuan Lai		 Hsu Tian
Investment
Co., Ltd.
Representative:
Jer-Shyong Tsai
Nationality
or place of
registration		 Taiwan
R.O.C.		 Taiwan
R.O.C.		 Taiwan
R.O.C.
Title Vice
Chairman		 Managing
Director		 Managing
Director

10

Other Chief,
Supervisors or
Directors with a
Spousal or Other
Immediate Relative		 Relation None None None None None
Name None None None None None
Title None None None None None
Current Bank & Other
positions		 None None
CEO of Cathay
International Holdings Ltd.		 Supervisor of Chaio-Wu
Co., Ltd.		 Vice Chairman, China
Man-Made Fiber
Corporation; Chairman, Je
Mi Fang Corporation
Major (academic
degree) experience
Representative of
TC Bank, Taipei
Representative
Office; National
Chung Hsing
University,
Department of
Agricultural
Economics
Vice General
Manager of
Cooperative Bank;
Chairman of
Cooperative Bank
Insurance Agency
Co., Ltd.;
Department of
Transportation and
Communication
Management
Science, NCKU
Responsible person
of JP Morgan
Chase in China;
Co-responsible
person of BNP in
Asia; CEO of
Fubon Bank (Hong
Kong) Limited;
and graduated
from Harvard
Business School
V.P., Taichung
Business Bank;
Kainan High
School of
Commerce and
Industry, Senior
Class, Business
Director of
ITOCHU
CORPORATION,
Taipei Branch;
Department
of Political
Science, National
Taiwan University
Shareholding under
the title of a third
party
Ratio of
Shareholding
%
0
0
0
0
0

Quantity
0
0
0
0
0
Current Shares Held
by Spouse &
Dependents
Ratio of
Shareholding
%
0
0
0
0
0.00

Quantity
0
0
0
0
65,379
Current shareholding Ratio of
Shareholding
%
0
0
0
0.00
0

Quantity
0
0
0
82,582
0

Shares at Election		 Ratio of
Shareholding
%
0
0
0
0.00
0
Quantity 0 0 0 70,697 0
Inauguration
date		 2008/6/13 2010/6/15 2011/6/22
2006/1/2		 2002/7/16

Duration		 3 years 3 years 3 years 3 years 3 years
Election
(Appointment)
Date		 2014/6/19 2014/6/19 2014/6/19 2014/6/19 2014/6/19

Name		 Hsi-Rong Huang Chen-Le Liu Jin-Yi Lee Representative
of I Joung
Investment
Co., Ltd.:
Ching-Hsin
Chang		 Hsu Tian
Investment
Co., Ltd.
Representative:
Ming-Shan
Chuang
Nationality
or place of
registration
Taiwan
R.O.C.		 Taiwan
R.O.C.		 Hong
Kong		 Taiwan
R.O.C.		 Taiwan
R.O.C.
Title Managing
Director
(Independent
director)		 Independent
director		 Independent
director		 Director Director

11

Other Chief,
Supervisors or
Directors with a
Spousal or Other
Immediate Relative		 Relation None None None None None None
Name None None None None None None
Title None None None None None None
Current Bank & Other
positions		 Supervisor of Taichung
Bank Leasing Co., Ltd.		 Chairman of Taichung
Bank Leasing Co., Ltd.		 Chairman, Taichung
Commercial Bank
Securities Co., Ltd.		 Chairman, Chun Fu
Development Co., Ltd.;
Director, Yu Hui Limited

Director, Sakura
Development Co., Ltd.;
Chairman, Bao Jia Property
Management Co., Ltd;
Director, Hong-Wei
Development Co., Ltd.;
Chairman, Pau Jar Real
Estate Co, Ltd.; Chairman,
Chu Ho Construction
Co. Ltd. Director, Lucia
Manor Corporation		 None
Major (academic
degree) experience
Chief
Auditor, Land
Bank of Taiwan;
Master in Land
Administration,
National Chung
Hsing University
President, Chang
Hwa Bank,
Department of
Accounting and
Statistics, Tamkang
University
SEVP of Capital
Securities,
Chairman of
Taiwan
International
Securities
Co.,Ltd,, President
of Capital
Securities
(HK) Limited,
DBA of Tamkang
University
Reliance Securities
Investment Trust
Co., Ltd., Graduate
from Deh Ming
Commercial
School, Special
Assistant, China
Man-Made Fiber
Corporation.
Legislator, Institute
of Law, Chinese
Culture University
Assistant Manager
, Pau Jar Group,
Department
of Law, Fu Jen
Catholic
University
Shareholding under
the title of a third
party
Ratio of
Shareholding
%
0
0
0
0
0
0

Quantity
0
0
0
0
0
0
Current Shares Held
by Spouse &
Dependents
Ratio of
Shareholding
%
0
0
0
0.02
0
0

Quantity
0
0
0		 712,686
0
0
Current shareholding Ratio of
Shareholding
%
0
0
0
0
0
0

Quantity
0
0
0
0
0
0

Shares at Election		 Ratio of
Shareholding
%
0
0
0
0
0
0
Quantity 0 0 0 0 0 0
Inauguration
date		 2005/5/25
2012/6/8
2014/2/6		 2012/10/1 2014/6/19
2015/1/6

Duration		 3 years 3 years 3 years 3 years 3 years 3 years
Election
(Appointment)
Date		 2014/6/19 2014/6/19 2014/6/19 2014/6/19 2014/6/19 2014/6/19
Name Hsu Tian
Investment
Co., Ltd.
Representative:
Hsin-Ching
Chang		 Hsu Tian
Investment
Co., Ltd.
Representative:
Wei-Liang Lin		 Hsu Tian
Investment
Co., Ltd.
Representative:
Shu-Yuan Lin		 Pan Asia
Chemical
Corporation
Representative:
Meng-Liang
Chang		 Ho Yang
Management
Consultant
Co., Ltd.
Representative:
Chien-Hui
Huang		 Ho Yang
Management
Consultant
Co., Ltd.
Representative:
Yu-Chun Chen
Nationality
or place of
registration		 Taiwan
R.O.C.		 Taiwan
R.O.C.		 Taiwan
R.O.C.		 Taiwan
R.O.C.		 Taiwan
R.O.C.		 Taiwan
R.O.C.
Title Director Director Director Director Director Director

12

2. Major Shareholders of Corporate Shareholders

February 29, 2016

February 29, 2016
Corporate shareholder Name Major shareholder of corporate shareholder and shareholding Ratio of
Shareholding thereof
Hsu Tian Investment Co., Ltd. Chia-Chun Chiang (50%), Kuei-Fong Wang (45.71%), You-Ciang Yang
(4.29%)
Pan Asia Chemical Corporation China Man-Made Fiber Co., Ltd. (44.34%); Sheng Jen Knitted Textiles Co., Ltd.
(6.19%); Chung Chien Investment Co., Ltd. (5.12%); Deh Hsing Investment
Co., Ltd. (4.68%); Tai Yi Investment Co., Ltd. (2.36%); Ke Yi Bao Investment
Co., Ltd (0.76%); Pan Asia Investment Co., Ltd. (0.64%); Pan Asia Employee
Welfare Committee (0.62%); Ya-Ying Jhu (0.56%); Kuei-Hsien Wang (0.43%).
I Joung Investment Co., Ltd. Yi-Jen Chen (22.82%), Chi Chen Investment Co., Ltd. (18.69%), Yee-Fan
Chen(17.42%), Chen Yi-Fen (12.47%), Lee Lor Investment Co., Ltd. (10.35%),
Ching-Shuan Chen Ting (6.47%), Hsiun-Fan Lo (5.51%), Yee-Chen Chen
(4.7%), Ming-Yuan Yeh (0.56%), Feng-Nian Chiang (0.56%).
Ho Yang Management Consultant
Co., Ltd.		 Shu-Cyong Zen (81%), Chen-Hai Lin (19%)
3. The major shareholder of the juristic person shareholder is a juristic person
February 29, 2016
Corporate shareholder Name Major shareholder of corporate shareholder and shareholding Ratio of
Shareholding thereof
China Man-Made Fiber Co., Ltd. Pan Asia Chemicals Corporation (15.50%), Sheng Jen Knitted Texiles (4.36%),
Formosa Imperial Wine Seller (3.65%), Special Account in custody of HSBC
Taiwan (3.61%), Pan Asia Investment Co., Ltd. (3.11%), CMFC Investment
Co., Ltd. (2.60%), Manulife Financial Taiwan (0.75%), Deh Hsing Investment
Co., Ltd. (0.69%); Vanguard International Equity Fund Investment Account
under the Custody of Morgan Chase Bank Taipei (0.62%); Netherlands Pension
Robert Bacal Investment Account at Citibank (0.59%).
Sheng Jen Knitted Textiles Co., Ltd. CMFC Investment Co., Ltd. (53.47%), Yu Hui Limited (40.40%), Chao-Chang
Wang (5.57%), Wang Kuei-Hsien (0.25%), Shang-Jr Chiang (0.15%), Shi-Yi
Chiang (0.10%), Chao-Ching Wang (0.05%).
Chung Chien Investment Co., Ltd. Ta Fa Investment Co., Ltd. (28.08%); Pan Asia Chemical Corporation
(17.67%); Tung Hao Enterprises Corp. (15.64%); Chin-Yuan Huang (14.72%);
Hsuan Deh Consultants Co., Ltd. (8.82%); Chun Foo Development Co., Ltd.
(6.61%); Hsu Tian Investment Co., Ltd. (2.96%), Yu Hui Limited (1.70%);
Kuei-Hsien Wang (1.70%); Kuei-Fong Wang (1.55%); .
Deh Hsing Investment Co., Ltd. China Man-Made Fiber Corporation (100%).
Tai Yi Investment Co., Ltd. Pan Asia Investment Co., Ltd. (41.80%), Ta Fa Investment Co., Ltd. (38.17%),
Tsung Hao Enterprise Co., Ltd. (9.93%), Wang Kuei-Hsien (6.31%), Sian-Jhang
Syu (2.53%), Hsu Tian Investment Co., Ltd. (1.26%).
Ke Yi Bao Investment Co., Ltd. Yun-Jyun Deng (100%).
Pan Asia Investment Co., Ltd. Tai Yi Investment Co., Ltd. (47.42%), Ta Fa Investment Co., Ltd. (42.63%),
Tsung Hao Enterprise Co., Ltd. (9.44%), Kuei-Hsien Wang (0.51%).
Pan Asia Chemical Corporation
Employee Welfare Committee		 Not applicable.
Chi Chen Investment Co., Ltd. Yee-Chen Chen (0.1%)
Lee Lor Investment Co., Ltd. Yee-Fan Chen (100%)

February 29, 2016

13

13

4. Information on Directors in professionalism and impartiality

Conditions
Name		 Have more than 5 years of experience and the
following professionalqualifications		 Have more than 5 years of experience and the
following professionalqualifications		 Have more than 5 years of experience and the
following professionalqualifications		 Status of independence (note) Status of independence (note) Status of independence (note) Status of independence (note) Status of independence (note) Status of independence (note) Status of independence (note) Status of independence (note) Status of independence (note) Status of independence (note) Number of
public
companies
where the
person holds the
title as
independent
director

Lecturer or
above in
commerce, law,
finance,
accounting or
subjects
required by the
business of the
bank in public
or private
colleges or
universities		 Passed the
qualification
examination with
proper licensing by
the national
Government
Apparatus as court
judge, prosecutor,
lawyers, certified
public accountant or
other professional
designations required
by the business of the
Bank		 Required
Work
experience in
commerce,
law, finance,
accounting or
others
required by
the Bank		 1 2 3 4 5 6 7 8 9 10
Chun-ShengLee 0
Kuei-Fong
Wang		 0
Jer-ShyongTsai 0
Chin-Yuan Lai 0
Hsi-Rong
Huang		 0
Chen-Le Liu 0
Jin-Yi Lee 0
Ching-Hsin
Chang		 0
Hsin-Ching
Chang		 0
Ming-Shan
Chuang		 0
Wei-LiangLin 0
Shu-Yuan Lin 0
Meng-Liang
Chang		 0
Chien-Hui
Huang		 0
Yu-Chun Chen 0
  • Note: Respective director and supervisor who meet the following qualifications 2 years before assumption of office and at the time of assumption office shall put a “  ” in the appropriate space.

==> picture [39 x 63] intentionally omitted <==

  • (1) Not an employee of the Bank or its affiliates.

  • (2) Not a director or supervisor of the Bank or its affiliates (excluding the capacity of independent director of the Bank or its parents, or a subsidiary directly or indirectly held by the Bank with more than 50% of the stakes).

  • (3) Not a natural person, spouse, underage children, or under the title of a third party who holds more than 1% of the outstanding shares issued by the Bank or among the top 10 natural person shareholders.

  • (4) Not a spouse, kin at the second pillar under the Civil Code, or the lineal blood relatives within the third pillar under the Civil Code as specified in (1) through (3).

  • (5) Not a director, supervisor or employee of an institutional shareholder who holds more than 5% of the outstanding shares issued by the Bank, or a director, supervisor or employee of an institutional shareholder who is among the top 5 shareholders.

  • (6) Not a director, supervisor, manager or shareholder holding more than 5% of the outstanding shares of specific company or institution in business or financial relation with the Bank.

  • (7) Not a professional, owner, partner, director, supervisor, manager of proprietorship, partnership, company or institution that provide business, legal, financial and accounting services to the Bank or a spouse to the aforementioned persons. Except the members of the Remuneration Committee in exercising their authority within the scope of empowerment pursuant to Article 7 of the Regulations Governing the Appointment and Exercise of Powers by the Remuneration Committee of a Company Whose Stock is Listed on the Stock Exchange or Traded Over the Counter.

  • (8) Not a spouse to or kin at the second pillar under the Civil Code to any other director.

  • (9) Not under any of the categories stated in Article 30 of the Company Act.

  • (10) No Government Apparatus agency, juristic person or its representative is elected under Article 27 of the Company Act.

14

14

Spouse or kin within the second
pillar under the Civil Code and
who is a manager		 Relation None None None None None None None None None None None None None None None
Name None None None None None None None None None None None None None None None
Title None None None None None None None None None None None None None None None
Positions with other companies Director, The Great Taipei Gas Corporation;
Executive Director, Taichung Commercial
Bank Co., Ltd.		 Director, Taichung Commercial Bank
Securities Co., Ltd.		 Director, Reliance Securities Investment Trust
Co., Ltd.		 Director, Taichung Bank Leasing Co., Ltd.;
Director, Taichung Bank Insurance Brokers
Co., Ltd.		 Supervisor, Taichung Commercial Bank
Securities Co., Ltd.		 Director, Hsiang Feng Development Co., Ltd.;
Director, Eureka Investment Co., Ltd.		 None Supervisor, Taichung Commercial Bank
Securities Co., Ltd.		 None None Director, Taichung Bank Leasing Co., Ltd. Supervisor, Taichung Bank Insurance Brokers
Co., Ltd.; Director, Eureka Investment
Co., Ltd.		 None None None
Major (academic degree) experience President, Shin Kong Commercial Bank
Co., Ltd.; Department of Economics,
Tung Hai University		 Senior Vice President, Shin Kong
Commercial Bank Co., Ltd.; Department
of Public Finance and Taxation, National
Taipei University of Business		 Manager, Business Development Dept.;
Finance Master, National Chung Hsing
University College of Management		 Manager, IT Department; Department of
Statistics, National Cheng Kung
University		 Manager, HR Dept.; Department of
Accounting; Fu Jen Catholic University		 Chief Secretary, Office of the Board;
Department of Law, National Chengchi
University		 Chief Auditor and Director-General of
Cosmos Bank; Graduate Institute of
Finance, Tamkang University		 Manager, HR Dept.; Department of
Accounting; Fu Jen Catholic University		 Deputy Director of General Affairs
Department; Department of Fiber, Ming
Chi College		 Manager, Erlin Branch; Department of
Technology Management, Chung Hua
University		 Taichung Regional Center Manager;
Taichung Institute of Technology (Open
Education Program), Banking and
Insurance		 Deputy Manager, HR Dept.; School of
Chemistry, Stellenbosch University of
South Africa		 Deputy Manager, Accounting Dept.;
Graduate Institute of Accounting,
National Chengchi University		 Deputy Manager, Business Department;
Department of Information Science,
Fengchia University		 Vice President, Taichung Bank Leasing
Co., Ltd.; Department of Banking,
National Chengchi University
Shareholding under the
title of a third party		 Ratio of
Shareholding
%		 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Quantity 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Shares Held by Spouse &
Dependents		 Ratio of
Shareholding
%		 0 0 0.00 0.00 0.01 0 0 0.01 0 0 0 0 0 0.00 0
Quantity 0 0 40,100 380 393,020 0 0 393,020 0 0 0 0 0 34,149 0
Status of shareholding Ratio of
Shareholding
%		 0.02 0.00 0.02 0.01 0.01 0.00 0.01 0.01 0.01 0.02 0.01 0.00 0.00 0.01 0.00
Quantity 666,725 78,550 580,896 162,493 461,464 36,749 320,307 461,464 241,027 518,095 268,162 28,730 49,809 343,484 23,790
Election
 (Appointment)
Date		 2015/07/01 2015/10/19 2010/08/04 2013/03/13 2009/08/27 2015/09/14 2009/09/14 2015/09/14 2008/09/22 2011/11/24 2013/01/25 2012/07/02 2009/11/09 2013/01//25 2015/03/13
Name Chin-Yuan Lai Ching-Tai Huang Hsueh-Hsuan Liao Deh-Wei Chia Chi-Chuan Fang Kai-Yu Lin Min-Chin Shen Chi-Chuan Fang
(concurrent post)		 Ching-hu Hsieh Chun-Ying Wang Yi-Yuan Tung Chung-Ping Yang Yi-Ying Chung Chun-Sheng Lin Ya-Mei Chen
Nationality Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C.
Title President Senior Vice President Senior Vice President Senior Vice President Executive Vice President Chief Compliance Officer Chief Auditor Office of the Board of
Directors
Chief Secretary		 General Affairs Dept.
Assistant VP		 Business Dept.
Assistant VP		 Loan Administration Dept,
Assistant VP		 Human Resource Dept.
Assistant VP		 Accounting Dept.
Assistant VP		 Information Dept.
Assistant VP		 International Banking Dept.
Assistant VP

15

Spouse or kin within the second
pillar under the Civil Code and
who is a manager		 Relation None None None None None None None None None None None None None None None None
Name None None None None None None None None None None None None None None None None
Title None None None None None None None None None None None None None None None None
Positions with other companies None None Director, Taichung Commercial Bank
Securities Co., Ltd.		 None None None None None Director, Reliance Securities Investment Trust
Co., Ltd.		 None None None None None None None
Major (academic degree) experience Deputy Manager, Loan Administration
Dept.; Graduate Institute of Information
Management, National Sun Yat-Sen
University		 Deputy Manager, Dept of Debt Collection
and Asset Recovery; Department of Law,
Soochow University		 Senior Vice President, Shin Kong
Commercial Bank Co., Ltd.; Department
of Public Finance and Taxation, National
Taipei University of Business		 Senior Deputy Manager, Cathay United
Bank; Master of Finance, Jinan
University		 Manager, Changhua Regional Center,
Department of International Trade, Feng
Chia University		 Vice Chief Auditor of Auditing Office of
Board; Department of Law, National
Taiwan University		 Manager, Treasury Department; National
Taiwan University College of
Management		 Manager, Risk Management Department;
Department of Finance and Banking,
National Taiwan University		 Senior Manager, Taipei Fubon Bank;
MBA of National Taipei University of
Technology		 Deputy Manager, International Business
Dept.; Department of Banking and
Finance, Takming University of Science
and Technology		 Deputy Management of Business
Department, EMBA Program at National
Chung Hsing University.		 Senior Manager, Shalu Branch of Shin
Kong Commercial Bank Co., Ltd.; MBA
of National Chung Hsing University		 Manager, Business Dept.; Graduate
Institute of Industrial Management,
National Cheng Kung University		 Deputy Manager, Wealth Management
Dept.; Taichung Institute of Technology,
Banking and Insurance		 Deputy Manager, Nantun Branch;
Department of Taxation and Public
Finance, Feng Chia University		 Manager, Minghsiung Branch; MBA of
National Changhua University of
Education
Shareholding under the
title of a third party		 Ratio of
Shareholding
%		 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Quantity 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Shares Held by Spouse &
Dependents		 Ratio of
Shareholding
%		 0 0 0 0 0.00 0 0.00 0 0 0 0 0 0 0 0 0
Quantity 0 0 0 0 9,623 0 1,998 0 0 0 0 0 0 0 0 0
Status of shareholding Ratio of
Shareholding
%		 0.00 0.00 0.00 0.00 0.01 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.00
Quantity 93,361 56,749 78,550 33,200 420,833 126,440 243,356 135,882 23,200 41,608 22,180 17,840 256,349 1,780 17,000 23,670
Election
 (Appointment)
Date		 2010/08/04 2009/09/01 2015/10/19 2015/10/06 2015/03/13 2015/09/22
2015/03/13		 2015/03/13 2015/10/01 2012/12/17 2016/02/16 2015/10/01 2015/03/13 2016/02/16 2016/02/16 2016/02/16
Name Yu-Chung Lin Mei-Li Wu Ching-Tai Huang
(concurrent post)		 Po-Mao Huang Kuo-Chi Lin Tsung-Yi Liu Kuang-Chung Hsiao Chen-Ying Wu Hsien-Chih Liu Chih-Hung Lu Ching-Wen Shih
(acting)		 Hung-Ching Chu Chien-Min Chou Li-Chu Chen Wei-Tsang Hung
(acting)		 Ching-Tang Tsai
Nationality Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C.
Title Trust Dept.
Assistant VP		 Department of Debt
Collection and Asset
Recovery
Assistant VP		 Consumer Banking
Department
Assistant VP		 Treasury Marketing
Department
Assistant VP		 Corporate Finance Dept.
Assistant VP		 Assistant VP, Legal &
Compliance Department		 Risk Management Dept.
Assistant VP		 Treasury Dept.
Assistant VP		 Wealth Management Dept.
Assistant VP		 Asst. Executive
Vice Presidents, Overseas
Banking Branch		 Business Dept.
Assistant VP		 W. Taichung Branch
Senior Manager		 Zhong Zheng Branch
Senior Manager		 Xitun Branch
Senior Manager		 Nantun Branch
Senior Manager		 Neixin Branch
Senior Manager

16

Spouse or kin within the second
pillar under the Civil Code and
who is a manager		 Relation None None None None None None None None None None None None None None None None None None
Name None None None None None None None None None None None None None None None None None None
Title None None None None None None None None None None None None None None None None None None
Positions with other companies None None None None None None None None None None Shareholder, Huan Lin Co., Ltd. None None None None None None None
Major (academic degree) experience Assistant VP, Shalu Branch; International
Trade, Tamsui Institute of Business
Administration		 Deputy Manager, W. Taichung Branch;
Department of Applied Commerce,
Taichung Institute of Technology (Open
Education Program)		 Manager, Lungjing Branch; Business
Administration, Ling Tung College		 Manager, Yuanlin Branch; Department of
Business Administration, Chung Hua
University		 Manager, Beidou Branch; Department
of Law, Fu Jen Catholic University		 Deputy Manager, Taiping Branch;
Applied Foreign Language, Taichung
College of Business		 Senior Manager, Neixin Branch;
Department of Applied Commerce,
Taichung Institute of Technology (Open
Education Program)		 Manager, Huatan Branch; MBA of
National Chung Hsing University		 Manager, Taichungkang Branch; Business
Administration, Taichung Commercial
School		 Manager, Fongyuan Branch; Department
of Statistics, Tung Hai University		 Manager, Junkong Branch; Institute of
Business and Management, Feng Chia
University		 Assistant VP, Qingshui Branch;
Department of Insurance Management,
Chao Yang University of Technology		 Manager, Simin Branch; Department of
Cooperative Economics, Feng Chia
University		 Manager, Puli Branch Branch; Business
Administration, Taichung College of
Business( Open education program)		 Manager, Neihu Branch; Graduate
Institute of Finance and Banking,
Tamkang University		 Assistant VP, Dajia Branch Branch;
International Trade, Ling Tung College		 Deputy Manager, Lukang Branch; MBA,
Institute of Health and Management		 Manager, Lungjing Branch; Department
of Cooperative Economics, National
Chung Hsing University
Shareholding under the
title of a third party		 Ratio of
Shareholding
%		 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Quantity 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Shares Held by Spouse &
Dependents		 Ratio of
Shareholding
%		 0 0.00 0.00 0 0 0.00 0 0.00 0 0 0 0 0 0 0 0.00 0.00 0.00
Quantity 0 1,693 6,049 0 0 3,472 0 17,081 0 0 0 0 0 0 0 59,300 142 706
Status of shareholding Ratio of
Shareholding
%		 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.02 0.01 0.01 0.00 0.00 0.01 0.00 0.00 0.01 0.00 0.01
Quantity 52,740 25,856 186,624 5,920 135,024 29,740 43,627 686,119 277,651 281,508 2,787 25,742 233,092 20,052 26,782 474,591 24,660 289,645
Election
 (Appointment)
Date		 2016/02/16 2013/01/25 2015/09/14 2015/03/13 2015/09/14 2014/03/14 2016/02/16 2015/03/13 2015/09/14 2015/03/13 2014/03/14 2016/02/16 2015/03/13 2016/02/16 2016/02/16 2016/02/16 2013/01/25 2013/01/25
Name Zai-Hong Yang Chung-Rong Lin Kuo-Chin Chi Ching-Yuan Lin Yi-Pin Lin Wen-Hsin Chiu Yu-Ying Chen Chi-Hsien Lee Hsin-Ru Kao Pao-Yuan Chen Hui-Chin Lu Ming-Ren Hsu Chiung-Teng Hung Ming-Yu Chiu Chiung-Wen Chang Tung-Po Yang Chao-Chi Tseng Chang-Chi Liu
Nationality Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C.
Title Dadu Branch
Assistant VP		 N. Taiping Branch
Senior Manager		 Taichungkang Branch
Assistant VP		 Simin Branch
Senior Manager		 Junkong Branch
Senior Manager		 S. Taichung Branch
Assistant VP		 N. Taichung Branch
Manager		 Taiping Branch
Assistant VP		 Houli Branch
Senior Manager		 Daya Branch
Senior Manager		 Tanzi Branch
Senior Manager		 Shengang Branch
Senior Manager		 Fongyuan Branch
Assistant VP		 Dajia Branch
Assistant VP		 Qingshui Branch
Assistant VP		 Shalu Branch
Assistant VP		 Wufong Branch
Assistant VP		 Dongshi Branch
Senior Manager

17

Spouse or kin within the second
pillar under the Civil Code and
who is a manager		 Relation None None None None Brothers None None None None None None None None None None None None
Name None None None None Cheng-Wen
Ni		 None None None None None None None None None None None None
Title None None None None Assistant
VP		 None None None None None None None None None None None None
Positions with other companies None None None None None None None None None None None None None None None None None
Major (academic degree) experience Senior Manager, Dajia Branch of Shin
Kong Commercial Bank Co., Ltd.;
Institute of Public Affairs Management,
National Sun Yat-sen University		 Manager, Nanyang Branch; Finance,
Taichung Institute of Technology (Open
Education Program)		 Manager, Beitun Branch; Department of
Accounting, Feng Chia University		 Manager, Houli Branch; Department of
Applied Commerce, Taichung Institute of
Technology (Open Education Program)		 Manager, Erlin Branch; Department of
Business Administration, Feng Chia
University		 Deputy Manager, Puli Branch;
Department of International Trade,
University of Chinese Culture.		 Manager, Datu Branch; International
Trade, Overseas Chinese College of
Commerce		 Deputy Manager, Xitun Branch; Institute
of Business and Management, Chung Hua
University		 Manager, Corporate Finance Dept. of
Shin Kong Commercial Bank Co., Ltd.;
Graduate Institute of Finance and
Banking, National Yunlin University of
Technology and Science		 Assistant VP, Business Dept.; Department
of Accounting, National Cheng Kung
University		 Assistant VP, Homei Branch; Department
of Business Administration, Mingshin
University of Science and Technology		 Manager, Zhong Zheng Branch;
International Trade, Ling Tung College		 Manager, Yuanlin Branch; Business, Holy
Savior High School		 Manager, International Business Dept.;
Department of Accounting, Feng Chia
University		 Manager, Shin Kong Commercial Bank
Co., Ltd.; International Trade, Ling Tung
College		 Manager, Puxin Branch; Applied
Foreign Language, Taichung Commercial
School on Continuing Education		 Manager, Changhua Branch; MBA of
Chaoyang University of Technology
Shareholding under the
title of a third party		 Ratio of
Shareholding
%		 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Quantity 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Shares Held by Spouse &
Dependents		 Ratio of
Shareholding
%		 0 0 0.00 0.00 0 0 0 0.00 0 0 0 0.00 0.01 0 0 0 0.00
Quantity 0 0 1,266 3,453 0 0 0 116,247 0 0 0 19,990 178,040 0 0 0 1,253
Status of shareholding Ratio of
Shareholding
%		 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.01 0.01 0.00 0.01 0.00 0.00 0.00 0.00
Quantity 17,840 25,709 40,087 29,351 23,713 23,770 420,939 73,580 17,840 452,235 384,799 43,077 215,300 47,090 17,840 36,471 26,210
Election
 (Appointment)
Date		 2015/10/12 2015/09/14 2015/09/14 2015/09/14 2015/03/13 2013/01/25 2016/02/16 2016/02/16 2015/10/01 2016/02/16 2016/02/16 2015/03/13 2015/09/14 2015/03/13 2015/09/16 2016/02/16 2015/09/14
Name Te-Chuan Wang Chun-Chun Yu Yung-Chang Lai Pi-Hua Chang Cheng-Hsien Ni Shin-Hsiung Huang Ching-Kun Lin Hsiang-Lieh Huang Shih-Chi Chang Shu-Chen Chen Jui-Cheng Yang Yu-Chen Yang Hsin-Hsin Lee Cheng-Yu Lai Shih-Yi Hsiao Chih-Hao Liang Yung-Sung Chien
Nationality Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C.
Title E. Fongyuan Branch
Assistant VP		 Wuri Branch
Assistant VP		 S. Fongyuan Branch
Assistant VP		 Nanyang Branch
Senior Manager		 Nantou Branch
Senior Manager		 Zhushan Branch
Senior Manager		 Puli Branch
Assistant VP		 Caotun Branch
Manager		 Changhua Branch
Manager		 Lukang Branch
Assistant VP		 Xihu Branch
Assistant VP		 Erlin Branch
Assistant VP		 Beidou Branch
Assistant VP		 Tianzhong Branch
Senior Manager		 Yuanlin Branch
Senior Manager		 Homei Branch
Assistant VP		 Shetou Branch
Manager

18

Spouse or kin within the second
pillar under the Civil Code and
who is a manager		 Relation None None None None None None None None None None None None None None None None
Name None None None None None None None None None None None None None None None None
Title None None None None None None None None None None None None None None None None
Positions with other companies None None None None None None None None None None None None None None None None
Major (academic degree) experience Manager, Yongjing Branch; Graduate
Institute of Agricultural Economics,
National Chung Hsing University		 Deputy Manager, Shalu Branch;
Department of Economics, Feng Chia
University		 Manager, Fongyuan Branch; Department
of Accounting, National Chung Hsing
University		 Manager, Peitou Branch; Enterprise
Information Management, Chung Chou
Institute of Technology, Affiliated College
of Continuing Education		 Manager, Daya Branch; Institute of
Business and Management, Asia
University		 Deputy Manager, Huatan Branch;
Department of Business Administration,
National Chung Hsing University		 Manager, Wuri Branch; Tourism
Department, Tamsui Institute of Business
Administration		 Manager, S. Fongyuan Branch; Graduate
School of Statistics, National Taipei
University		 Manager, Caotun Branch; Business
Administration, Taitung Institute of
Technology		 Assistant VP, Shin Kong Commercial
Bank Co., Ltd.; Department of Taxation
and Public Finance, Aletheia University		 Deputy Manager, Dazhu Branch; MBA of
National Changhua University of
Education		 Assistant VP, Shin Kong Commercial
Bank Co., Ltd.; Graduate Institute of
Industrial Economics, Tamkang
University		 Manager, North Regional Center,
Department of Economics, National
Chung Hsing University		 Manager, Feng Shan Branch; Graduate
Institute of Financial Operations, National
Kaohsiung First University of Science
and Technology		 Deputy Manager, Tucheng Branch;
Department of International Trade,
Tamkang University		 Manager, E. Fongyuan Branch; Institute
of Business and Management, Feng Chia
University
Shareholding under the
title of a third party		 Ratio of
Shareholding
%		 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Quantity 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Shares Held by Spouse &
Dependents		 Ratio of
Shareholding
%		 0 0 0 0 0 0 0.00 0 0.00 0 0 0 0 0 0 0.00
Quantity 0 0 0 0 0 0 1,780 0 2 0 0 0 0 0 0 4,410
Status of shareholding Ratio of
Shareholding
%		 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0 0.00 0.00 0.00 0.00
Quantity 325,733 36,377 23,550 132,084 102,387 24,435 60,661 47,580 148,398 19,840 147,867 0 38,650 49,394 25,993 25,859
Election
 (Appointment)
Date		 2015/03/13 2015/03/13 2013/01/25 2014/03/14 2015/03/13 2013/01/25 2013/01/25 2015/09/14 2016/02/16 2015/10/01 2015/09/14 2016/02/16 2013/06/24 2015/03/16 2013/01/25 2015/09/14
Name Chih-Hua Yao Chao-Chi Chang Wei-Huang You Ming-Cheng Wu Chia-Wei Tsai Chun-Min Huang Shih-Huei Wang Chih-Hung Wu Kuang-Chih Chen Yu-Hsien Shen Hui-Chen Chao Yung-Chiang Yu Kuo-Liang Ho Wen-Kai Tsai Yin-Ta Tsai Chien-Hao Chen
Nationality Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C.
Title Huatan Branch
Assistant VP		 Yongjing Branch
Senior Manager		 Xiushui Branch
Assistant VP		 Shenkang Branch
Senior Manager		 Dazhu Branch
Manager		 N. Yuanlin Branch
Manager		 Pitou Branch
Senior Manager		 Beitun Branch
Assistant VP		 Puxin Branch
Manager		 Taipei Branch
Assistant VP		 Lungjing Branch
Senior Manager		 Songshan Branch
Assistant VP		 Sanzhong Branch
Assistant VP		 Kaohsiung Branch
Assistant VP		 Linkou Branch
Assistant VP		 Huwei Branch
Manager

19

Spouse or kin within the second
pillar under the Civil Code and
who is a manager		 Relation None None None None None None None None None None None None None None None None
Name None None None None None None None None None None None None None None None None
Title None None None None None None None None None None None None None None None None
Positions with other companies None None None None None None None None None None None None None None None None
Major (academic degree) experience Deputy Manager, Dajia Branch;
International Trade, Ling Tung College		 Deputy Manager, Yuanli Branch;
Department of Accounting, Tung Hai
University		 Manager, Huwei Branch, Erlin Branch;
Bank Management, Tamsui Institute of
Business Administration		 Assistant VP, Songshan Branch; Business
Administration, National Taipei Junior
College of Business on Air education
program		 Assistant VP, Shin Kong Commercial
Bank Co., Ltd.; MBA of Tamkang
University		 Manager, Kaohsiung Branch; Graduate
Institute of Financial Operations, National
Kaohsiung First University of Science
and Technology		 Manager, Tucheng Branch; Graduate
School of Management, Yuan Ze
University		 Manager, Shengang Branch; MBA,
Banking and Finance, Chaoyang
University of Technology		 Senior Manager, Shin Kong Commercial
Bank Co., Ltd.; Department of
International Trade, Fu Jen Catholic
University		 Manager, Citibank Fu Cheng Branch;
Comprehensive Commerce Depertment,
National Tainan Commercial Vocational
Senior High School		 Manager, Zhunan Branch; Department of
Economics, Tung Hai University		 Manager, Xinzhuang Branch; Graduate
Institute of Management Science,
National Chiao Tung University		 Deputy Manager, Neili Branch; National
Taiwan University College of
Management		 Assistant VP, Shin Kong Commercial
Bank Co., Ltd.; Graduate Institute of
Technology Management, National Chiao
Tung University		 Manager, Tayuan Branch; Graduate
School of Management, Yuan Ze
University		 Manager, Taoyuan Branch; Graduate
Institute of Finance and Banking,
National Central University
Shareholding under the
title of a third party		 Ratio of
Shareholding
%		 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Quantity 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Shares Held by Spouse &
Dependents		 Ratio of
Shareholding
%		 0 0.00 0 0 0 0 0 0.00 0 0 0.00 0.00 0.00 0 0 0
Quantity 0 5,631 0 0 0 0 0 3,744 0 0 16,257 - 60,785 0 0 0
Status of shareholding Ratio of
Shareholding
%		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.01
Quantity 24,270 23,180 64,012 69,897 19,840 108,966 35,290 36,322 17,840 25,343 197,260 22,592 84,501 23,200 22,280 167,874
Election
 (Appointment)
Date		 2015/09/14 2015/09/14 2014/03/14 2016/02/16 2015/10/12 2015/03/16 2016/02/16 2016/02/16 2015/10/12 2010/06/01 2015/09/14 2013/01/25 2014/11/11 2015/10/01 2015/09/14 2015/09/14
Name Chin-Shan Liu Yu-Jui Liu Chen-Hsiang
Chuang		 Jui-Chang Lee Liang-Wen Chiang Chiang-Kai Liu Shu-Lan Huang Yi-Cheng Liao Cheng-Ming Yang Tsung-Hsien Lee Cheng-Huan Huang Hsin-Fa Wang Hua-Hsing Wen Chao-Ching Wu Yu-Hui Tseng Pei-Miao Jan
Nationality Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C.
Title Yuanli Branch
Manager		 Zhunan Branch
Senior Manager		 Dounan Branch
Manager		 Neihu Branch
Assistant VP		 Banchiao Branch
Assistant VP		 Feng Shan Branch
Assistant VP		 Xinzhuang Branch
Senior Manager		 Minghsiung Branch
Manager		 Taoyuan Branch
Assistant VP		 Yongkang Branch
Senior Manager		 Zhupei Branch
Senior Manager		 Nan Kang Branch
Assistant VP		 Neili Branch
Senior Manager		 Hsinchu Branch
Assistant VP		 Kueishan Branch
Manager		 Jhongli Branch
Senior Manager

20

Spouse or kin within the second
pillar under the Civil Code and
who is a manager		 Relation None None None None None None None Brothers None
Name None None None None None None None Cheng-Hsien
Ni		 None
Title None None None None None None None Senior
Manager		 None
Positions with other companies None None None None None None None None None
Major (academic degree) experience Manager, Chu Pei Branch; Department of
Taxation and Public Finance, National
Chung Hsing University		 Manager, Yangmei Branch; Department
of Cooperative Economics, Feng Chia
University		 Manager, Jhongli Branch; Department of
Applied Business, Taipei Institute of
Commerce and Technology		 Senior Manager, Xinzhuang Branch;
Department of Banking, National
Chengchi University		 Manager, Songshan Branch; Department
of Banking, National Chengchi University		 Deputy Manager, Corporate Finance
Dept.; Graduate Institute of Finance and
Banking, Tamkang University		 Manager, Pizgzhen Branch; Department
of Industrial Management, National
Taiwan University of Science and
Technology		 Manager, Dazhu Branch; Department of
Business Administration, Ling Tung
College		 Manager, Taipei Branch; Graduate
Institute of Law, Soochow University
Shareholding under the
title of a third party		 Ratio of
Shareholding
%		 0 0 0 0 0 0 0 0 0
Quantity 0 0 0 0 0 0 0 0 0
Shares Held by Spouse &
Dependents		 Ratio of
Shareholding
%		 0 0 0 0 0 0 0 0 0
Quantity 0 0 0 0 0 0 0 0 0
Status of shareholding Ratio of
Shareholding
%		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01
Quantity 46,195 23,020 149,803 28,424 114,194 18,388 21,130 58,018 195,955
Election
 (Appointment)
Date		 2014/08/15 2015/09/14 2015/09/14 2016/02/16 2013/09/24 2016/02/16 2015/06/25 2015/03/13 2015/09/14
Name Chien-Hung Lin Ting-Kuang Huang Jih-Hsin Lee Chun-wen Chen Tien-Hou Tsai Chi-Jen Chang Chien-Min Feng Cheng-Wen Ni Rung-Kuo Cheng
Nationality Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C. Taiwan R.O.C.
Title Hsin Feng Branch
Senior Manager		 Tayuan Branch
Senior Manager		 Yangmei Branch
Senior Manager		 Tucheng Branch
Manager		 Fuxing Branch
Manager		 Zhongshan Branch
Manager		 Taitung Branch
Manager		 Assistant VP, Changhua
Regional Center		 Northern Regional Center
Assistant VP

21

III.
Remuneration to Directors, President and Executive Vice Presidents, and allocation of remuneration to employees in the most recent year:
(I)
Remuneration to Directors (including independent directors)
Unit: NTD thousand;%		 Remuneration
paid to
directions
from an
invested
company
other than the
company’s
subsidiary		 Remuneration
paid to
directions
from an
invested
company
other than the
company’s
subsidiary		 Remuneration
paid to
directions
from an
invested
company
other than the
company’s
subsidiary		 Remuneration
paid to
directions
from an
invested
company
other than the
company’s
subsidiary		 0 0 0 36 36 36 36 36 0 Note 1: The remuneration to employee and directors are allocated according to the earnings allocation motion in the most recent year. The proportion of allocation this year is imputed based on the proportion of allocation in the
most recent year.
Note 2: Chairman Jin-Fong Soo retired from office on June 3 2015. Director Chun-Sheng Lee assumed office of the Chairman on June 17 2015.
Note 3: Hsu Tian Investment Co., Ltd. appointed Chin-Yuan Lai as the representative on June 3, 2015.
Note 4: Chauffeurs have been assigned to the Chairman and the Managing Directors. The salaries and over-time payment amounted to NTD 1,115,640.
The sum of A, B,
C, D, E, F and G
in proportion to
Earnings		 All
companies
mentioned
in the
financial
statements		 0.51 0.45 0.56 1.77 1.30
The
Bank		 0.51 0.45 0.56 1.46 1.30
Remuneration in the capacity as employees Number of new
restricted
employee shares
acquired

All
companies
mentioned
in the
financial
statements		 0 0 0 0 0

The
Bank		 0 0 0 0 0
Quantity of
shares entitled
under employee
stock option (H)

All
companies
mentioned
in the
financial
statements		 0 0 0 0 0

The
Bank		 0 0 0 0 0

Remuneration to employees (G)
(Note 1)		 All companies mentioned
in the financial statements		 Stock 0 0 0 0 0

Cash		 147 0 177 0 0
The Bank Stock 0 0 0 0 0
Cash 147 0 177 0 0


Pension (F)
All
companies
mentioned
in the
financial
statements		 0 0 0 0 0
The
Bank		 0 0 0 0 0
Salaries, bonus and
special subsidies (E)		 All
companies
mentioned
in the
financial
statements		 8,618 0 19,205 0 0
The
Bank		 8,618 0 19,205 0 0
The sum of A, B,
C and D in
proportion to
Earnings		 All
companies
mentioned
in the
financial
statements		 0.26 0.45 0 1.77 1.30
The
Bank		 0.26 0.45 0 1.46 1.30
Remuneration to Directors For services (D) All
companies
mentioned
in the
financial
statements		 1,440 2,022 110 4,147 0
The
Bank		 1,440 2,022 110 2,534 0
Remuneration (C) All
companies
mentioned
in the
financial
statements		 0 0 0 17,558 40,602
The
Bank		 0 0 0 17,558 40,602
Pension (B)
All
companies
mentioned
in the
financial
statements		 0 0 0 0 0
The
Bank		 0 0 0 0 0
Director fees (A) All
companies
mentioned
in the
financial
statements		 7,683 13,540 0 39,343 4,560
The
Bank		 7,683 13,540 0 30,550 4,560
Name Chun-Sheng Lee Jin-Fong Soo Chin-Yuan Lai Kuei-Fong Wang, Jer-Shyong Tsai
Hsi-Rong Huang (independent director)
Chen-Le Liu, Jin-Yi Lee		 Shu-Yuan Lin, Meng-Liang Chang
Hsin-Ching Chang; Ming-Shan Chuang
Wei-Liang Lin, Chien-Hui Huang
Yu-Chun Chen, Ching-Hsin Chang		 Pan Asia Chemical Corporation Ho Yang Management Consultant Co., Ltd. I Joung Investment Co., Ltd. Hsu Tian Investment Co., Ltd.
Title Chairman Chairman Managing Director Managing Director Independent director Director

22

Name of Directors Total (A+B+C+D+E+F+G) All companies mentioned in
the financial statements J		 Chen-Le Liu, Jin-Yi Lee,
Meng-Liang Chang,
Hsin-Ching Chang,
Ming-Shan Chuang,
Chien-Hui Huang, Yu-Chun
Chen, Ching-Hsin Chang		 Hsi-Rong Huang,
Shu-Yuan Lin, Wei-Liang Lin,
I Joung Investment Co., Ltd.		 Pan Asia Chemical
Corporation		 Kuei-Fong Wang, Jer-Shyong
Tsai, Ho Yang Management
Consultant Co., Ltd.		 None None None None 16 persons
The Bank Chen-Le Liu, Jin-Yi Lee,
Shu-Yuan Lin, Meng-Liang
Chang, Hsin-Ching Chang,
Ming-Shan Chuang,
Wei-Liang Lin, Chien-Hui
Huang, Yu-Chun Chen,
Ching-Hsin Chang
Hsi-Rong Huang, I Joung
Investment Co., Ltd.		 Pan Asia Chemical
Corporation		 Kuei-Fong Wang, Jer-Shyong
Tsai, Ho Yang Management
Consultant Co., Ltd.		 None None None None 16 persons
Total (A+B+C+D) All companies mentioned in
the financial statements I		 Chen-Le Liu, Jin-Yi Lee,
Meng-Liang Chang,
Hsin-Ching Chang,
Ming-Shan Chuang,
Chien-Hui Huang, Yu-Chun
Chen, Ching-Hsin Chang		 Hsi-Rong Huang,
Shu-Yuan Lin, Wei-Liang Lin,
I Joung Investment Co., Ltd.		 Pan Asia Chemical
Corporation		 Kuei-Fong Wang, Jer-Shyong
Tsai, Ho Yang Management
Consultant Co., Ltd.		 None None None None 16 persons
The Bank Chen-Le Liu, Jin-Yi Lee,
Shu-Yuan Lin, Meng-Liang
Chang, Hsin-Ching Chang,
Ming-Shan Chuang,
Wei-Liang Lin, Chien-Hui
Huang, Yu-Chun Chen,
Ching-Hsin Chang		 Hsi-Rong Huang, I Joung
Investment Co., Ltd.		 Pan Asia Chemical
Corporation		 Kuei-Fong Wang, Jer-Shyong
Tsai, Ho Yang Management
Consultant Co., Ltd.		 None None None None 16 persons
Classification of remuneration paid to directors Less than NTD 2,000,000 NTD 2,000,000(inclusive) ~ NTD 5,000,000
(exclusive)		 NTD 5,000,000(inclusive)～NTD 10,000,000
(exclusive)		 NTD 10,000,000(inclusive) ~ NTD 15,000,000
(exclusive)		 NTD 15,000,000(inclusive) ~ NTD 30,000,000
(exclusive)		 NTD 30,000,000(inclusive) ~ NTD 50,000,000
(exclusive)		 NTD 50,000,000(inclusive) ~ NTD 100,000,000
(exclusive)		 NTD 100,000,000 above Total

23

Unit: NTD thousand;%
Remuneration
paid to
directions
from an
invested
company
other than the
company’s
subsidiary
Remuneration
paid to
directions
from an
invested
company
other than the
company’s
subsidiary
Remuneration
paid to
directions
from an
invested
company
other than the
company’s
subsidiary

 3 3 3 3 3 3 3 3 Note 1: The remuneration to employee and directors are allocated according to the earnings allocation motion in the most recent year. The proportion of allocation this year is imputed based on the proportion of allocation in the
most recent year.
Note 2: President Chun-Sheng Lee assumed office as the Chairman on June 17 2015.
Note 3: Managing Director Chin-Yuan Lai assumed office as the President on July 1 2015.
Note 4: Mr. Ching-Tai Huang assumed office as the Senior Vice President on October 19 2015.
Note 5: A chauffeur has been assigned to the President. The salaries and overtime payments amounted to NTD 453,528.
Classification of remuneration		 Name of Presidents and Executive Vice Presidents All companies mentioned in the financial statements Ching-Tai Huang None Chun-Sheng Lee, Chi-Chuan Fang, Kai-Yu Lin, Hsueh-Hsuan Liao,
Deh-Wei Chia, Min-Chin Shen		 None Chin-Yuan Lai None 8 persons
Number of new
restricted
employee shares
acquired

All
companies
mentioned
in the
financial
 statements
0



The
Bank
0
Employee share
subscription
warrants		 All
companies
mentioned
in the
financial
 statements
0



The
Bank
0
The sum of A, B,
C and D in
proportion to
Earnings
All
companies
mentioned
in the
financial
 statements
1.71
The
Bank		 1.69
Remuneration to the
employees (D)
(Note 1)		 All
companies
mentioned
in the
financial
statements		 Stock
0		 The Bank Ching-Tai Huang None Chun-Sheng Lee, Chi-Chuan Fang, Kai-Yu Lin, Hsueh-Hsuan Liao,
Deh-Wei Chia, Min-Chin Shen		 None Chin-Yuan Lai None 8 persons
Cash 1,092


The Bank		 Stock
0
Cash 1,092
Bonus and special
Disbursement
(C)
All
companies
mentioned
in the
financial
 statements
16,892



The Bank
16,607
Pension
(B)
All
companies
mentioned
in the
financial
 statements 0



The
Bank
0
Salaries
(A)
All
companies
mentioned
in the
financial
 statements
41,349
Classification of Remuneration paid to presidents and
Executive Vice Presidents		 Less than NTD 2,000,000 NTD 2,000,000(inclusive) ~ NTD 5,000,000 (exclusive) NTD 5,000,000(inclusive)～NTD 10,000,000
(exclusive)		 NTD 10,000,000(inclusive) ~ NTD 15,000,000
(exclusive)		 NTD 15,000,000(inclusive) ~ NTD 30,000,000
(exclusive)		 NTD 30,000,000(inclusive)~NTD 100,000,000 above Total
The Bank 41,099
Name Chun-Sheng Lee Chin-Yuan Lai Hsueh-Hsuan Liao Deh-Wei Chia Ching-Tai Huang Chi-Chuan Fang
Kai-Yu Lin		 Min-Chin Shen
Title President President Senior Vice President Senior Vice President Senior Vice President Executive Vice President Executive Vice President Chief Auditor

24

(III) Names of managers with remuneration as employees and the status of payment

Unit: NTD thousand; %

Title Name Stock Cash Total Total/after-tax
profit
Chairman Chun-Sheng Lee
President Chin-Yuan Lai
Senior
Vice President		 Hsueh-Hsuan Liao, Deh-Wei Chia, Ching-Tai
Huang
Executive
Vice President		 Chi-Chuan Fang, Kai-Yu Lin 0 7,783 7,783 0.22
Chief Auditor Min-Chin Shen
Mangers of the
various
departments and
branches		 Ching-hu Hsieh, Chun-Ying Wang, Yi-Yuan
Tung, Chung-Ping Yang, Yi-Ying Chung,
Chun-Sheng Lin, Yu-Chung Lin,
Kuang-Chung Hsiao, Mei-Li Wu, Chen-Ying
Wu, Hsien-Chih Liu, Ya-Mei Chen,
Kuo-Chi Lin, Po-Mao Huang, Tsung-Yi Liu,
Tsung-Hsien Lee, Chung-Cheng Wu,
Hung-Ching Chu, Chien-Min Chou, Li-Chu
Chen, Ching-Tang Tsai, Zai-Hong Yang,
Chung-Rong Lin, Kuo-Chin Chi,
Ching-Yuan Lin, Yi-Pin Lin, Wen-Hsin Chiu,
Yu-Ying Chen, Chi-Hsien Lee, Hsin-Ru
Kao, Pao-Yuan Chen, Hui-Chin Lu, Ming-Ren
Hsu, Chiung-Teng Hung, Ming-Yu Chiu,
Tung-Po Yang, Chao-Chi Tseng,
Chang-Chi Liu, Te-Chuan Wang, Chun-Chun
Yu, Yung-Chang Lai, Pi-Hua Chang,
Cheng-Hsien Ni, Shin-Hsiung Huang,
Ching-Kun Lin, Hsiang-Lieh Huang, Shih-Chi
Chang, Shu-Chen Chen, Jui-Cheng Yang,
Yu-Chen Yang, Hsin-Hsin Lee, Cheng-Yu Lai,
Shih-Yi Hsiao, Chih-Hao Liang, Yung-Sung
Chien, Chih-Hua Yao, Chao-Chi Chang,
Wei-Huang You, Ming-Cheng Wu, Chia-Wei
Tsai, Chun-Min Huang, Shih-Huei Wang,
Chih-Hung Wu, Kuang-Chih Chen, Yu-Hsien
Shen, Hui-Chen Chao, Kuo-Liang Ho,
Wen-Kai Tsai, Yin-Ta Tsai, Chien-Hao Chen,
Chih-Hung Lu, Chin-Shan Liu, Yu-Jui Liu,
Chen-Hsiang Chuang,
Jui-Chang Lee, Liang-Wen Chiang,
Chiang-Kai Liu, Shu-Lan Huang, Cheng-Ming
Yang, Tsung-Hsien Lee, Cheng-Huan Huang,
Chao-Ching Wu, Hsin-Fa Wang, Hua-Hsing
Wen, Yu-Hui Tseng, Pei-Miao Jan,
Chien-Hung Lin, Ting-Kuang Huang,
Jr-Hsin Lee, Chun-wen Chen, Chi-Jen Chang,
Tien-Hou Tsai, Chien-Min Feng, Cheng-Wen
Ni,Rung-Kuo Cheng

25

25

  • (IV) Compare and analyze the total remuneration to the Directors, Supervisors, President, and Vice Presidents of the Bank and all companies included in the consolidated statements in the last 2 years in proportion to the corporate earnings, and specify the policy, standard, combination, decision-making process of remuneration and its association with operation performance:

1. Analysis on Proportion to Earnings

Unit: NTD thousand;%
2015
2014
The Bank
Consolidation
The Bank
Consolidation
120,598
131,005
30,482
38,009
-
-
2,170
2,170
58,798
59,333
24,686
25,211
179,396
190,338
57,338
65,390
5.16
5.47
1.54
1.76		 Unit: NTD thousand;%
2015
2014
The Bank
Consolidation
The Bank
Consolidation
120,598
131,005
30,482
38,009
-
-
2,170
2,170
58,798
59,333
24,686
25,211
179,396
190,338
57,338
65,390
5.16
5.47
1.54
1.76		 Unit: NTD thousand;%
2015
2014
The Bank
Consolidation
The Bank
Consolidation
120,598
131,005
30,482
38,009
-
-
2,170
2,170
58,798
59,333
24,686
25,211
179,396
190,338
57,338
65,390
5.16
5.47
1.54
1.76		 Unit: NTD thousand;%
2015
2014
The Bank
Consolidation
The Bank
Consolidation
120,598
131,005
30,482
38,009
-
-
2,170
2,170
58,798
59,333
24,686
25,211
179,396
190,338
57,338
65,390
5.16
5.47
1.54
1.76
2015 2014
The Bank Consolidation The Bank Consolidation
Director 120,598 131,005 30,482 38,009
Supervisor - - 2,170 2,170
President/Executive
VicePresidents		 58,798 59,333 24,686 25,211
Total 179,396 190,338 57,338 65,390
Total/after-tax profit 5.16 5.47 1.54 1.76

Note: The remuneration to directors less the salary received by President for assuming employees concurrently.

  1. The compensation policy, standard, combination of compensation items, and codify the procedures of compensation determination and the linkage between compensation and operating performance as well as future risks.

  2. (1) The Bank’s remuneration policy and standard portfolio, payment procedure, and operating performance correlation for the directors is based on Article 27-1 of the Bank’s Articles of Incorporation: “The remuneration to Chairman is based on the total income of the President times 1.25.” The compensation for the Vice Chairman of the Board, Executive Director, and Independent Directors is at the discretion of the board, taking into consideration compensation at the industry level. Said compensation is based on the total compensation of the General Manager but may not exceed 1.1 times that amount. Independent Directors are not eligible for our bank’s earnings distribution. Our bank may pay for liability insurance policies that cover the liabilities for damages as defined by statutes or court ruling within the scope of the business of Directors. Article 35, “If there is a profit, the Bank shall appropriate 0.5% to 3% as remuneration to the employees. The Board shall determine if stock or cash shall be released for such purpose. In addition, the Bank may allocate no more than 1.5% of the aforementioned amount as remuneration to the Directors and Supervisors. The Remuneration Committee shall propose the remuneration to Directors and Supervisors and present to the Board for resolution and to the Shareholders’ Meeting for ratification.

  3. (2) The remuneration to the President and the Vice Presidents shall commensurate with their individual professional standing and experience with reference to industry standard subject to the review of the Remuneration Committee and the final approval of the Board. Further to the fixed monthly salaries, a performance bonus and special bonus will be released based on the overall operation performance of the year in accordance with the regulation governing rewards to the employees. For linking with possible risk in the future, the performance bonus of personnel at the level of department head or higher shall be retained in part for deferred payment pending on no involvement of misconduct in business operation and no violation of law that may cause significant loss and risk to the Bank.

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26

IV. The Status of Corporate Governance

(I) The function of the Board

The Board called 10 (A) meetings in 2015. The attendance of directors is specified as follows:

follows:
Title Name Actual
number of
attendance
(B)		 Attend
through
proxy		 Attendance
rate
(B/A)(%)		 Remarks
Chairman Chun-Sheng Lee
[Representative of Hsu Tian
Investment Co., Ltd.]		 10 0 100 2015.6.17 elected as Chairman in the
Managing Directors Meeting.
Vice
Chairman		 Kuei-Fong Wang
[Representative of Hsu Tian
Investment Co., Ltd.]		 10 0 100
Managing
Director		 Jer-Shyong Tsai
[Representative of Hsu Tian
Investment Co., Ltd.]		 7 3 70
Managing
Director		 Chin-Yuan Lai
[Representative of Hsu Tian
Investment Co., Ltd.]		 7 0 100 Institutional Director Hsu Tian
Investment Co., Ltd. replaced Mr.
Jin-Fong Soo with Mr. Chin-Yuan Lai on
June 16 2015, who was elected as
Managing Director on June 17 2015.
Attendance for 7 instances shall be
required.
Managing
Director
(Independent
Director)		 Hsi-Rong Huang 10 0 100
Independent
director		 Chen-Le Liu 9 1 90
Independent
director		 Jin-Yi Lee 10 0 100
Director Hsin-Ching Chang
[Representative of Hsu Tian
Investment Co., Ltd.]		 10 0 100
Director Ching-Hsin Chang
[Representative of I Joung
Investment Co., Ltd.]		 9 0 90
Director Ming-Shan Chuang
[Representative of Hsu Tian
Investment Co., Ltd.]		 10 0 100
Director Meng-Liang Chang
[Representative of Pan Asia
Chemical Corporation]		 8 1 80
Director Wei-Liang Lin
[Representative of Hsu Tian
Investment Co., Ltd.]		 10 0 100
Director Shu-Yuan Lin
[Representative of Hsu Tian
Investment Co., Ltd.]		 10 0 100
Director Chien-Hui Huang
[Representative of Ho Yang
Management Consultant Co., Ltd.]		 8 1 80
Director Yu-Chun Chen
[Representative of Ho Yang
Management Consultant Co., Ltd.]		 10 0 100

27

27

Other notes:

  1. The content of the particulars inscribed in Article14-III of the Securities and Exchange Act, and of the adverse opinions or qualified opinions of the independent directors with record or declaration in writing shall be stated with the date of the Board meeting, the session, the content of the motions, the opinions of all independent directors, and the response to such opinions: none.

  2. The avoidance of the conflict of interest by the Directors on related motions, specify the names of the Directors, the content of the motions, the principle of the avoidance of the conflict of interest, and the participation in casting the ballots:

  3. (1) In the 7[th] session of the 22[nd] term of the Board on 2015.3.11, the motion of “The Financing of Taichung Commercial Bank Securities Co., Ltd. (Deputy Agent: Shu-Yuan Lin)” in discussion. Director Shu-Yuan Lin and Director Chuang Ming-shan are the Chairman and Director of Taichung Commercial Bank Securities Co., Ltd., respectively, and were excused from the discussion for the avoidance of the conflict of interest. The remainder of the Directors in session passed the motion in common consent.

  4. (2) In the 8[th] session of the 22[nd] term of the Board on 2015.5.6, the motion of “Acquisition of equity stocks issued by Reliance Securities Investment Trust Co., Ltd. through the swap of shares terminated” in discussion, Vice Chairman Kuei-Fong Wang also holds the position as the Chairman of Reliance Securities Investment Trust Co., Ltd., and was excused from the discussion for the avoidance of the conflict of interest. The remainder of the Directors in session passed the motion in common consent.

  5. (3) In the 9[th] session of the 22[nd] term of Board on 2015.6.17, the motion on “The replacement of the President of the Bank” in discussion, Managing Director Chun-Sheng Lee was the President and Managing Director Chin-Yuan Lai were excused from the discussion for the avoidance of the conflict of interest. The remainder of the Directors in session passed the motion in common consent.

  6. (4) In the 10[th] session of the 22[nd] term of the Board on 2015.8.7, the motion on “The Financing of Taichung Commercial Bank Securities Co., Ltd. (Deputy Agent: Shu-Yuan Lin)” in discussion. Director Shu-Yuan Lin and Director Chuang Ming-shan are the Chairman and Director of Taichung Commercial Bank Securities Co., Ltd., respectively, and were excused from the discussion for the avoidance of the conflict of interest. The remainder of the Directors in session passed the motion in common consent.

  7. (5) In the 13[th] session of the 22[nd] term of the Board on 2015.10.6, the motion of “Adjustment of the Remuneration to Independent Directors” in discussion. Managing Director Hsi-Rong Huang, Independent Director Jin-Yi Lee, and Independent Director Chen-Le Liu are stakeholders to the motion, and were excused from the discussion. The remainder of the Directors in session passed the motion in common consent.

  8. (6) In the 14[th] session of the 22[nd] term of the Board on 2015.11.4, the motion of “The Split Up of Remuneration for Joint Promotion between TCB and Taichung Bank Insurance Brokers Co., Ltd. in the Sale of Insurance Products” in discussion, Vice President Kuei-Fong Wang also holds the position as the Chairman of Taichung Bank Insurance Brokers Co., Ltd., and is a stakeholder to the motion and was excused from the discussion for the avoidance of the conflict of interest. The remainder of the Directors in session passed the motion in common consent.

  9. (7) In the 14[th] Session of the 22[nd] term of the Board on 2015.11.4, the motion of “the Establishment of the salary scale and payroll chart for business needs” in discussion. Chairman Chun-Sheng Lee, Vice Chairman Kuei-Fong Wang, Managing Director Hsi-Rong Huang, Managing Director and President Chin-Yuan Lai, Independent Directors Jin-Yi Lee, and Independent Director Chen-Le Liu are stakeholders to the motion and were excused from the discussion for the avoidance of the conflict of interest. The remainder of the Directors in session passed the motion in common consent.

  10. (8) In the 15[th] session of the 22[nd] term of the Board on 2015.12.16, the motion of “Decommission of the Non-Business Use Office at the Beitun Files Warehouse of the Bank and the Expansion of the Business Venue for Beitun Branch and the Application for leasing the office space by Taichung Bank Insurance Brokers Co., Ltd.” in discussion. Vice Chairman Kuei-Fong Wang, who is also the Chairman of Taichung Bank Insurance Brokers Co., Ltd., is a stakeholder to the motion, and was excused from the discussion for the avoidance of the conflict of interest. The remainder of the Directors in session passed the motion in common consent.

  11. (9) In the 15[th] session of the 22[nd] term of the Board on 2015.12.16, the motions of “Adjustment of the Monthly Remuneration to President Chin-Yuan Lai”, “The principle for Payment of Incentive Bonus and Operation Performance Reward to President Chin-Yuan Lai”, “Amendment to Article 27-I of the Articles of Incorporation”, “The Amendment to the Regulations Governing the Payment of Operation Performance Reward” in discussion. Chairman Chun-Sheng Lee, Vice Chairman Kuei-Fong Wang, Managing Director Jer-Shyong Tsai, Managing Director Hsi-Rong Huang, Managing Director and President Chin-Yuan Lai, Independent Director Jin-Yi Lee, and Independent Director Chen-Le Liu, are stakeholders to the motions, and were excused from the discussion for the avoidance of the conflict of interest. The remainder of the Directors in session passed the motion in common consent.

  12. (10) In the 15[th] session of the 22[nd] term of the Board on 2015.12.16, the motion of “Adjustment of the Remuneration to Vice Chairman Wang and Managing Director Tsai” in discussion. Vice Chairman Kuei-Fong Wang, Managing Director Jer-Shyong Tsai, Managing Director and President Chin-Yuan Lai, are stakeholders to the motions, and were excused from the discussion for the avoidance of the conflict of interest. The remainder of the Directors in session passed the motion in common consent.

  13. The objective of fortifying the functions of the Board in current year and the most recent year (e.g., the establishment of the Auditing Committee, and enhancement of the transparency of information) and the assessment of the result of execution: The Auditing Committee was established to substitute the system of Supervisors after the regular session of the General Meeting of Shareholders in FY2014.

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28

(II) The function of Audit Committee

The Auditing Committee convened for 9 times (A) in FY2015. The attendance of the independent directors is shown below:

Title Name Actual number of
attendance (B)		 Attend through
proxy		 Attendance rate
(%)
(B/A)		 Remarks
Independent
director		 Hsi-Rong
Huang		 9 0 100
Independent
director		 Chen-Le Liu 8 1 89
Independent
director		 Jin-Yi Lee 7 2 78
Other notes:
1. For issues as stated in Paragraph 5 in Article 14 of the Securities and Exchange Act not yet passed by the Auditing
Committee but passed by a two-third majority of the Board of Directors, specify the date and the series of the session,
the content of the motions, the resolution of the Auditing Committee, and the response to the opinions prescribed by
the Auditing Committee: None
2. The avoidance of the conflict of interest by the Independent Directors on related motions, specify the names of the
Independent Directors, the content of the motions, the principle of the avoidance of the conflict of interest, and the
participation in casting the ballots: None.
3. Communication between Independent Directors and internal audit officers and CPA:
(1) The Chief Internal Auditor of the Bank liaises with the members of the Auditing Committee on the audit findings
regularly, and present audit reports in the quarterly meeting of the Auditing Committee. In case of special
situation, report to the members of the Auditing Committee. No such event occurred in FY2015 and
communication with the Chief Internal Auditor is positive.
(2) The certified public accountants commissioned as external auditors of the Bank report to the Auditing Committee
on the audit opinions or results of the interim and annual financial reports on current period semi-annually and
annually. Is there any materiality that worth the attention of the Bank in the audit period as compared with the
previous period, such as the change in the quality of assets showing signs of impairment with objective evidence,
the analysis of aging account receivables, and evaluation of financial assets? Is there any proper communication
with the AuditingCommittee on their review of financial statements for fairpresentation?
  • (III) Items to be disclosed according to the Corporate Governance Best-Practice Principles for the Banking Industry

Please refer to the Bank’s website (www.tcbbank.com.tw) About Taichung Bank → Disclosure of Information → Information to be Disclosed under Laws

29

29

(IV) Status of Corporate Governance as required for banks, and any nonconformity to the Corporate Governance Best-Practice Principles for Banking Industry and reasons thereof

Items for evaluation Implementation Status Implementation Status Implementation Status Deviation from
the Corporate
Governance
Best-Practice Prin
ciples for the
Banking Industry
and reasons
Yes No Summary
1.
Equity structure and shareholders’
equity
(1) Has the Bank instituted an internal
procedure for handling
recommendations, queries, disputes of
the shareholders and legal actions,
and comply with the procedure
properly?
(2) Has the Bank kept track on the
dominant shareholders of the Bank
and the parties controlling these
shareholders?
(3) Has the Bank established and
implemented the risk control
mechanism and firewall between the
corporate headquarters and the
affiliates?
√
√		 √ The Bank has built the hotline and email dedicated to
handling the suggestions from shareholders and disputes, and
published them in the Bank’s official website.
The Bank shall keep track on the change in equity shares or
pledge of equity shares under lien by shareholders holding
more than 5% of the stakes and shareholders who are also
directors of the Bank, and shall disclose the update
information in “MOPS” as required.
The transactions between the Bank and the subsidiaries have
been conducted in accordance with applicable legal rules. As
such, it is necessary to monitor, control and handle. There are
also the criteria for the “monitoring and handling of
subsidiaries” inplace.		 no difference
2.
The organization of the Board and
their duties
(1) Further to the establishment of the
Remuneration Committee and the
Auditing Committee, has the Bank
voluntarily established other
functional committees?
(2) Has the Bank assessed the
independence of the commissioned
certified public accountants regularly?
√
√		 Please refer to I. Organization System; (I) Organizational
Structure on page 6.
The commissioned CPA will be subject to assessment on the
status of independence annually. The last assessment was
made pursuant to Article 38 of the “Best Practice Principles
of Corporate Governance for Banking Industry” and Article 3
of the “Organization Code of the Auditing Committee” of the
Bank with reference to Articles 46-48 of the “Certified Public
Accountant Act” thereby items for assessment of the
independence of the CPA were established. The content
covers total 8 items that whether or not the CPA is affiliated
with Bank directly or significantly but indirectly in financial
interest, major unusual financing relation, or involvement in
guarantee of financing not under normal business
transactions, the rendering of auditing and non-auditing
services simultaneously, and the effect on the status of
independence. The findings were passed by the 22ndterm of
the Board in the 16thsession on February 3 2016 on record,
which indicated relevance with related regulations governing
the independent status of the CPA.		 no difference
3.
Has the Bank established channels for
communications with the
stakeholders?		 √ (1) The Bank has already disclose it on the Bank’s intranet
pursuant to the Banking act and the competent
authority’s requirements about limitation on the credit
extended to stakeholders, and also held the seminars for
laws and regulations irregularly to enable the
persons-in-charge to comply with and know the laws and
regulations, and request completion of the stakeholder
information list immediately upon the stakeholder’s
transfer. The communication channel is considered
uninterrupted.
(2) The Bank not only disclosed the message on the MOPS
site as required but also published it on the Bank’s
official website to helpinvestors’ search.		 no difference

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30

Items for evaluation Implementation Status Implementation Status Implementation Status Deviation from
the Corporate
Governance
Best-Practice Prin
ciples for the
Banking Industry
and reasons
Yes No Summary
4.
Disclosures
(1) Has the Bank established a website
for the disclosure of financial
position, operation, and corporate
governance?
(2) Has the Bank adopted other means of
disclosures (e.g., the installation of a
website in English language,
appointment of designated persons for
the gathering and disclosure of
information, the proper
implementation of the spokesman
system, and the minutes of the
institutional investor’s conference on
record posted on the website)?		 √
√		 The company has established a website for the disclosure of
its Financial Status and status of corporate governance.
(1) The Bank has established the spokesman system for
release of information to ensure investors accessible to
accurate information.
(2) For the proper handling of materiality and disclosure, the
Bank has established the “Criteria for Handling
Materiality” whereby relevant departments shall appoint
designated personnel to handle materiality.
(3) At the worldwide web disclosure of institutional
investors conference. There is also a website in the
English language for disclosure of information on
financialposition and operation.		 no difference
5.
Any other vital information that helps
to understand the status of corporate
governance at the Bank (including but
not limiting to the rights of employees,
concern for the employees, investor
relation, the rights of the stakeholders,
continuing education of the directors
and the supervisors, risk management
policy and the implementation of risk
assessment, the pursuit of customer
policy, the liability insurance taken by
the Bank for the protection of the
Directors and Supervisors, donations
to political parties, stakeholders, and
social charity groups)?		 √ (1) For information on the rights and privileges of the
employees, refer to (I) important rights and privileges of
the employees, labor-management agreement and
implementation on Page 76.
(2) For the protection of rights and obligations, stakeholders
are regulated on files in accordance with the Banking
Act. In addition, there is also the provision for the
avoidance of the conflict of interest for Board meetings.
(3) The information on the continuing education of the
Directors, and their attendance to Board meetings are
updated regularly and disclosed at MOPS of TWSE.
(4) For information on the pursuit of risk management
policy and the standard for risk assessment, refer to VI.
Risk Management Issues on Page 101.
(5) The Bank has established the
“Consumer Protection Policy” for the protection of
consumer rights. In case of dispute in financial
consumption, proceed to the procedure for complaints of
the Bank with follow-up actions.
(6) The Bank has established the “Criteria for Making
Donation” to regulate the donation to political parties,
stakeholders, and charity groups. For information on
social charityin FY2015,refer to Page 34.		 no difference
6.
Has the Bank prepared the corporate
governance self-assessment report, or
has appointed a third party
professional institution to compile the
corporate governance assessment
report?		 √ Until the date this report was printed, the Bank has not
prepared any corporate governance self-assessment report.
However, the corporate governance system of the Bank has
been implemented in accordance with the “Corporate
Governance Best Practice Principles for Banking Industry”.		 no difference

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31

(V) Establishment, functions and operations of Remuneration committee

  1. Information on the members of the Remuneration Committee
By identity Conditions
Name












 Have more than 5 years of experience and
the following professionalqualifications		 Have more than 5 years of experience and
the following professionalqualifications		 Have more than 5 years of experience and
the following professionalqualifications		 Status of independence (Note) Status of independence (Note) Status of independence (Note) Status of independence (Note) Status of independence (Note) Status of independence (Note) Status of independence (Note) Status of independence (Note) Number of
public
companies
where the
members of
the
Remuneration
Committee
are also the
members of
the
remuneration
committees
of these
companies
Remarks
Lecturer or
above in
commerce,
law, finance,
accounting or
subjects
required by
the business
of the bank in
public or
private
colleges or
universities		 Passed the
qualification
examination
with proper
licensing by the
national
Government
Apparatus as
court judge,
prosecutor,
lawyers,
certified public
accountant or
other
professional
designations
required by the
business of the
Bank		 Required
Work
experience
in
commerce,
law, finance,
accounting
or others
required by
the Bank		 1 2 3 4 5 6 7 8
Independent director
(Managing Director)		 Hsi-Rong
Huang		 0 -
Independent director Chen-Le Liu 0 -
Others Ying-Hui Wu 0 -

Note: If any of the following conditions is applicable to the members within 2 years before office and during the term of office, please put the “  ” sign in the appropriate box below

  • (1) Not an employee of the Bank or its affiliates.

  • (2) Not a director or supervisor of the Bank or its affiliates. Excluding the capacity of independent director of the Bank or its parents, or a subsidiary directly or indirectly held by the Company with more than 50% of the stakes

  • (3) A third party and spouse, underage children, or under the title of a third party who holds more than 1% of the outstanding shares of the Bank or the top 10 shareholders who are natural persons.

  • (4) Not a spouse, kin at the second pillar under the Civil Code, or the lineal blood relatives within the third pillar under the Civil Code as specified in (1) through (3).

  • (5) The directors, supervisors or employees of institutional shareholders indirectly holding more than 5% of the outstanding shares of the Bank, or, the directors, supervisors, or employees of the top 5 institutional shareholders.

  • (6) The directors and supervisors, manager or shareholders holding more than 5% of the shares of specific companies or institutions that do not have financial or business transactions with the Bank

  • (7) Not a professional, owner, partner, director, supervisor, manager of proprietorship, partnership, company or institution that provide business, legal, financial and accounting services to the Company or a spouse to the aforementioned persons.

  • (8) Not under any of the categories stated in Article 30 of the Company Act.

  • The operation of the Remuneration Committee

    • (1) The Remuneration Committee of the Bank is consisted of 3 members.

    • (2) Main duties:

      • Establishment with routine review on the policies, systems, criteria, and structure of performance evaluation and remuneration to the Directors, Supervisors, and the managers. Routine evaluation and establishment of the remuneration to the Directors, Supervisors, and managers.

    • (3) Term of office of current committee members:

July 16, 2014 to June 18, 2017. The Remuneration Committee has convened for 6 times in the most recent year (A). The qualifications of the members and their attendance to the meetings are shown below:

Title Name Actual number of
attendance(B)		 Attend through
proxy		 Attendance rate (%)
(B/A)		 Remarks
Convener
 Hsi-Rong Huan g
6		 0 100 2014.7.16 reelected to office
Committee Chen-Le Liu 6 0 100 2014.7.16 reelected to office
Committee Ying-Hui Wu 5 1 83.33 2014.7.16 reelected to office
Other notes:
1. Where the Board may not take or revise the advice of the Remuneration Committee, specify the date and the session of the Board, the content of the
motion, the resolution of the Board, and the response to the opinions of the Company towards the advice of the Remuneration Committee (if the
resolution of the Board suggested better position of remuneration than the advice of the Remuneration Committee, specify the reasons and the
variations).
2. Where members of the Remuneration Committee may have adverse opinions or qualified opinions in their resolutions on record or in written
declaration, specify the date and session of the committee, the content of the motion, the opinions of all other members, and the responses to the
adverse opinions.

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32

(VI) Corporate Social Responsibility

Items for evaluation Implementation Status Deviations from
“Corporate Social
Responsibility
Best Practice Principles
for TWSE/GTSM
Listed Companies” and
reasons
Yes No
Summary
1. Realization of corporate governance
(1) Has the Bank established the
policy or system of corporate
social responsibility, and
reviewed the effect of
implementation?
(2) Has the Bank organized
education and training programs
in corporate social responsibility?
(3) Has the Bank established a
designated (part-time) body for
the advocacy of corporate social
responsibility headed by a senior
executive at the authorization of
the Board, and report to the
Board on the performance of
corporate social responsibility?
(4) Has the Bank established
reasonable remuneration policy,
and linked the performance
evaluation system of employees
to the corporate social
responsibility policy, and has
explicitly specified the policy for
reward andpunishment?



(1) The Bank has established the “Best Practice Principles of
Corporate Social Responsibility” for governing the Board
in its obligation in the performance of corporate social
responsibility under due diligence, and has reviewed the
result with continued effort in the improvement of
corporate social responsibility.
(2) The content of consumer protection, compliance of laws,
corporate ethics, and financial corruptions has been
incorporated into the curriculum for routine education.
(3) The Business Department of the Bank has been designated
for administering the pursuit of “Best Practice Principles
of Corporate Social Responsibility” and is responsible for
the proposal of the action plans for the pursuit of corporate
social responsibility policy, system or related management
policies and report to the Board on the outcomes.
(4) The Bank has established reasonable remuneration policy
through the institutionalization of relevant rules and
regulations. In addition, the Bank has also established the
system clearing specifying the punishment of employees in
accordance with the work regulations and the evaluation of
employees for corruption and fraud so as to bolster social
stability and realize business ethics and social
responsibility.






no difference
2. Fostering a Sustainable Environment
(1) Has the Bank made effort to
enhance the efficient use of all
resources and used regenerated
materials to mitigate the impact
on the environment?
(2) Has the Bank established a
suitable environment
management system by nature of
the industry?
(3) Has the Bank paid attention to
the effect of climatic change on
the operation, and has conducted
inspection on green house gas
and mapped out the strategy for
energy saving and the reduction
of carbon and greenhouse gas?

(1) Continue the streamlining of operation process with the
reduced use of papers. The annual report was printed on
recycled paper. Dumps are classified and recycled with the
use of environmental friendly tableware and avoid the use
of disposable tableware.
(2) The General Affairs Department of the Bank has been
designated to administer the “Best Practice Principles of
Corporate Social Responsibility” in the aspect of
environmental management and is responsible for the
establishment, advocacy and maintenance of related
environmental management system and action plans, and
facilitates the education on environment. The Bank has
also established the “Particulars for the Management of
Corporate Headquarters Building” and “Rules for
Occupational Safety and Health”.
(3) The “Best Practice Principles of Corporate Social
Governance” of the Bank is established in consideration of
the influence on the ecology by the operation and aims at
the reduction of energy and resource consumption, proper
handling of dumps, advocacy of green purchase. In
practice, the Bank seeks to use low energy consumption
materials, promote digital banking service and provide
education on environmental protection, and encourage the
recycle and reuse of regenerated resources, advocate
environmental protection and realize carbon reduction and
energy saving through research, development, purchase,
operation, and services. Disclosure of power consumption,
fuel consumption and the emission of greenhouse gas have
been made in the “Corporate Social Responsibility Report”
beingreleased.
no difference

33

33

Items for evaluation Implementation Status Implementation Status Implementation Status Deviations from
“Corporate Social
Responsibility
Best Practice Principles
for TWSE/GTSM
Listed Companies” and
reasons
Yes No
Summary
3. Preserving Public Welfare
(1) Has the Bank established related
management policy and procedure
in accordance with applicable
legal rules and international
conventions on human rights?
(2) Has the Bank established the
mechanism and channels for the
employees in filing complaints
and properly responded to the
complaints?
(3) Has the Bank provided a safe and
health work environment for the
employees, and provided
education on labor safety and
health regularly?
(4) Has the Bank developed the
mechanism for communication
with the employees at regular
intervals and informed the
employees of any change in the
operation of the Bank that may
cause significant influence on the
employees through reasonable
means?
(5) Has the Bank established the
training program for the effective
planning of career development
for the employees?
(6) Has the Bank mapped out the
policy for the protection of
consumer rights through the R&D,
procurement, operation, and
service process and the procedure
for handling consumer
complaints?
(7) Has the Bank duly observed
applicable laws and international
standards in the marketing and
labeling of products and services?
(8) Before the engagement with
suppliers in business, has the
Bank evaluated the suppliers on
any record showing their impact
on the environment and the
society in the past?
(9) Are there provisions contained in
major agreements binding the
Bank and the suppliers specifying
that if the suppliers are allegedly
involved in the violation of its
corporate social responsibility
policy and have caused significant
influence on the environment and
the society, the Bank may
terminate or discharge the
agreements at anytime?








(1) The Bank has established its “Best Practice Principles in
Corporate Social Responsibility” in accordance with the
“Corporate Social Responsibility Best Practice Principles
for TWSE/GTSM-listed Companies”.
(2) The Bank has opened a compliant hotline. Employees may
file their complaints through the hotline on any illegal
practice, sexual harassment, or any other complaints. The
Bank will respond to such complaints immediately and
keep the identity of the informants in strict confidence.
(3) Please refer to (IV) Work Environment and the Safety of
Employees Policy on Page 72.
(4) The Bank holds labor-management meeting quarterly to
coordinate labor-management relation and encourage
labor-management cooperation. In addition, the Bank also
discussed the issues of employee welfare and rights in full
detail.
(5) The Bank has mapped out the annual training plan in
accordance with the development strategy and the career
development roadmap of the employees, and provides
exclusive training for relevant functions.
(6) The Bank has mapped out its
“Consumer Protection Policy” for the protection of
consumer rights, and has established the channels for
customer opinions and complaints and the procedure for
the settlement of disputes.
(7) Related financial products and services are offered in
accordance with the regulations of the competent authority
and the Bank.
(8) Check if specific supplier has a record of environmental
and social impact by nature of the content of procurement
and the industry. If the supplier has a negative record, the
Bank shall go for other suppliers.
(9) In case the Bank discovers specific contractor or contractor
has negative social image in the course of procurement, the
Bank shall notify the contractor to give explanation and
take corrective action. If the situation is critical, terminate
the purchase or proceed to return of sales depending on the
content of the contracts.		 no difference
4. Enhancing Information Disclosure
Has the Bank disclosed relevant and
reliable information on corporate
social responsibility at its official
website and MOPS?		 The Bank has installed a website for the disclosure of
information on corporate social responsibility, and has disclosed
such information at MOPS as required.		 no difference
5. If the bank has established corporate social responsibility principles based on “Corporate Social Responsibility Best Practice Principles
for TWSE/GTSM Listed Companies”, please describe any discrepancy between the principles and their implementation:
The Bank has established the “Best Practice Principles for Corporate Social Responsibility” and practiced corporate social responsibility
while doingbusiness. The businessperformance of the Bank is congruent with theprinciples.

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34

Items for evaluation Implementation Status Implementation Status Implementation Status Deviations from
“Corporate Social
Responsibility
Best Practice Principles
for TWSE/GTSM
Listed Companies” and
reasons
Yes No
Summary
6. Other information critical to the understanding of our bank’s corporate social responsibility and how it is put into practice:
(1) The Bank is always dedicated to taking part in social welfare activities, and sponsoring the following activities:
1. Sponsor the Taiwan Aboriginal Baseball Development Association to hold the “21stAboriginal Cup” baseball game for the
concern of the aboriginal groups and national sports development.
2. Work with “Eden Social Welfare Foundation” in the charity petty cash donation activity and install petty cash donation boxes at
the business locations of the Bank’s branches.
3. Broadcast the welfare commercial for “Quit Smoking Promoted by the John Tung Foundation” in the multi-media channels at
the Bank’s business units.
4. Broadcast the film for “Anti-Fraud – Kidnapping” in the multi-media channels at the Bank’s business locations.
5. To work with the Child Welfare League Foundation in the fund-raising event entitled “Heart United Makes Home Reunion”, the
Bank helps find missing children and juvenile, and establishes the link from the Bank’s site to the official site of Foundation.
6. To help the “Dajiama Society Welfare Foundation Taichung City Private Zhen Lan Children Home” to raise invoices, and set up
the invoice box at the lobby of the Bank’s Central Taiwan Branch.
7. TCB has collaborated with the Maria Social Welfare Foundation in the issuance of the “Maria Social Welfare Infinity Card” in
September 2014 thereby a fixed percentage of transactions by charging the card will go to the charity fund of the foundation. In
2015, the donation amounted to NTD 220,000. In addition, TCB also supports the “Campus Building for the Severe Retarded
Children Program” so that the misfortunes could be properly cared by the society.
8. Hold the “Jasmine rally for used books for the well-being of the children of Maria” campaign to encourage its employees and
customers to donate used books. Jasmine Book Store collected the books and matched an equal amount of the purchase price for
donation to Maria Foundation in supporting the “Severe Physical and Mentally Impaired Children in Expanding their School
Campus” campaign.
9. The Bank allocates specific percentage of the transactions by using the Mazu Safety Card to Zheng Lang Temple at Da Jia for
commemoration of the blessing of Mazu. This move helps the advocacy of religious activities for contribution to the welfare of
the local community.
10. Support the Little Giant Chinese Chamber Orchestra to help promotion of traditional Chinese musical arts.
11. The Bank supports the “Dance Forum Taipei” in its performance organized by Taichung State Opera House, Taichung City
Government, and Changhwa County Cultural Bureau.
12. The Bank invited the wood sculpture artist Master Huang Yang-ching to Lugang Branch for the exhibition of his masterpieces
for sharing the spirit of traditional folk arts and culture.
13. TCB has founded the “Taichung Commercial Bank Education Foundation” for sponsoring poor students in good academic
standing with grants to assist them in education or living.
14. TCB has entered into agreements with the universities and colleges in central Taiwan for the engagement in industry-academic
cooperative education to provide practical training for the students.
15. TCB supports Juexiu Temple in funding the misfortune students in tuition fees and daily expenses so that they could complete
their education.
16. Supported Taiwan Financial Services Roundtable (TFSR) to organize the “2015 Financial Services Caring for the Community”
fair in Nantou, responded to charity and advocated financial knowledge to the general public.
17. In 2015, the Bank organized 9 seminars in schools and local communities to educate the people in finance and help the students
and the public to develop a proper concept in finance and wealth management.
18. The Bank supported the Youth Development Administration and the National Universities Summer Job and Practical
Training Programs in offering 22 positions for the students in 2015 so that the schools and properly linked to banks in the
education of practical work.
19. TCB organized visits to bank facilities for the pupils of Washington Primary School to give them a proper idea of wealth
management and banking.
20. Encourage the personnel of the branches to participate in activities in the communities related to corporate social responsibility.
They have participated in 47 events in 2015.
21. TCB has set up the TCB Triathlon Team and supported athletes Yi-Wen Wang, Yu-Yan Lee, and Pei-Yan Hsu in funding their
training as strong athletes.
22. Support the Chinese Taipei Volleyball Association to hold the “2015 Volleyball Cup Asian Men’s Championship” for the
advocacy of sports nationwide.
23. Participation in the “The 1stWorld Top 12 Baseball Tournament in 2015” in supporting baseball in Taiwan.
24. Support the Taiwan Aboriginal Baseball Development Association to hold the “22ndAboriginal Cup” baseball game for the
concern of the aboriginal groups and national sports development.
25. Sponsor “Chen Chung-Kuang Cultural and Educational Foundation” to hold the “7thChung Kuang Cup Youth Baseball Match”
for encouragement of baseball game.
26. Participation in the “2015 Taiwan Rice Heaven – Tianzhong Marathon” as the performance of corporate social responsibility
through participation in local events.
27. Support of the road running events organized in northern, central and southern Taiwan. With the combination of the glove
puppetry element and the road running factors, TCB helps to promote health of people.
(2) The Bank has employed 17persons who arephysicallyor mentallydisordered until the end of February2016.
7. If the corporate social responsibility reports have received assurance from external institutions, they should state so below:
The “2015 Corporate Social Responsibility Report” has been authenticated and validated by BSI but not yet released by the time this
report wasprinted.

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35

(VII) The best-practice of business integrity

Items for evaluation Implementation Status Implementation Status Implementation Status Difference with
other companies
listed in
TWSE/GTSM in
best-practice
principles of
business integrity
Yes No Summary
1. The policy and plan of business integrity
(1) Has the Bank publicly declared its policy
and means in ethical corporate management
in its internal code and external documents,
and the Board and the management of the
Bank has made positive effort in the
commitment of its corporate policy?
(2) Has the Bank established the scheme for
the prevention of unethical practices,
related operation procedures, code of
conduct, the punishment of unethical
practices, and the system of complaints,
and properly implemented the systems?
(3) Has the Bank taken relevant preventive
measures against business activities as
stated in Paragraph 2 in Article 7 of the
“Ethical Corporate Management
Best Practice Principles for
TWSE/GTSM-listed Companies” or within
the scope of business entailing higher risk
of unethical practices ?


(1) The Bank has made declaration at the website
and in the declaration of internal control that it
shall duly observe the regulation governing
internal control and internal audit system of
financial holding companies and banks, and
announced the issues requiring additional
internal control and corrective action for
improvement.
(2) The Bank has set up the stop loss point for
transactions, investment, and lending by nature
of the operation or different levels of risk
concentration, and adjusts these standards with
reference to relevant economic indicators and
the business development of the Bank at
regular intervals.
(3) The Bank has establishment the system of
compliance officer and related training to
educate employees in banking and finance in
compliance with the principle of integrity and
applicable laws. The Bank has instituted the
criteria for external donations in compliance
with applicable laws thereby regulate the
recipients and amount of donations.		 no difference
2. The Materialization of Business Integrity
(1) Has the Bank evaluated the record on
ethical practices of its counterparties, and
has specified the clause of business ethic in
the agreements binding the Bank and its
counterparties?
(2) Has the Bank established a designated
(part-time) body for the advocacy of ethical
corporate management under the Board,
and this body has report to the Board of the
implementation of ethical corporate
management regularly?
(3) Has the Bank mapped out the policy for the
avoidance of the conflict of interest and has
provided suitable channels for such
purpose, and properly pursued the policy?
(4) Has the Bank established effective
accounting system, internal control system
for purpose of ethical corporate
management, and the internal audit
function has conducted audit regularly, or
the Bank has appointed certified public
accountants to conduct internal audits?
(5) Has the Bank organized internal and
external training on ethical corporate
management?



(1) Has the Bank paid attention to the record of
ethical practices of contractors in procurement
or tender invitation, and has signed the clauses
in the agreements on the consequences of the
violation of ethical practices.
(2) Relevant functional departments advocate
ethical corporate management by their assigned
duties. An auditing office has been established
under the Board and present audit reports to the
Board at regular intervals.
(3) According to the “Regulation Governing the
Control of Information on the Financing of
Stakeholders” of the Bank, all stakeholders are
subject to control with record on file. In
addition, the Bank has also established the
“Regulation Governing Transactions with
Stakeholders beyond Financing” to avoid the
conflict of interest. Related internal code has
also contained the clause of the avoidance of
the conflict of interest for the realization of
ethical corporate management.
(4) The Bank has established the “Auditing Office
of the Board” and this office has conducted
routine audits in accordance with the
“Regulation Governing the Conduct of Internal
Audit System” of the Bank. In addition, the
Bank has established the “Accounting
Department” and the “accounting system”.
Deloitte Taiwan has audited the financial
statements of the Bank at regular intervals.
(5) Issues within the scope of ethical corporate
management, such as case study on corruption,
consumer protection, and compliance, have
been included as an essential part of the
teaching materials for training. In addition, the
Bank also sends its personnel to receive
trainingorganized byexternal institutions.		 no difference

36

36

Items for evaluation Implementation Status Implementation Status Implementation Status Difference with
other companies
listed in
Yes No Summary TWSE/GTSM in
best-practice
principles of
business integrity
3. The reporting system of the Bank in action
(1) Has the Bank established a reporting and
reward system and the channels for
facilitating the report on unethical
practices, and has appointed designated
personnel to handle the subject of
reporting?
(2) Has the Bank established the standard
operation procedure for handling report on
unethical practices and keep it confidential?
(3) Has the Bank taken protection measures to
protect the informant from improper
treatment after reporting on unethical
practices?


(1) The Bank has established the “Human
Resources Management Regulation” and
“Employees Work Regulation”, and a hotline
for reporting. A designated body will respond to
and keep track on the reports.
(2) The Bank has established the “Regulation for
Human Resources Evaluation and the
Establishment of the Evaluation Committee”
and the “Regulation Governing the Complaints
of Sexual Harassment and
Related Punishment”, and also the review and
investigation procedure, provisions for the
avoidance of the conflict of interests by
stakeholders, and confidentiality and
no-disclosure mechanism.
(3) According to the “Regulation Governing the
Complaints of Sexual Harassment and
Related Punishment”, supervisors at all levels
shall not discriminates against, intimidate and
transfer the informants to other duties, or cause
anyinconvenience to the informants.
no difference
4. Enhancing Information Disclosure
Has the Bank disclosed the content of ethical
corporate management best practice principles
and the result at its official website and MOPS?


The Bank has disclosed its Criteria for Material
Information Processing, Parliamentary Procedure of
the Board, and the Organization Code of the
Auditing Committee in its official website and
MOPS for governing the Directors, managers, and
employees in their obligations of business integrity
and ethics under due diligence, and run the business
in good faith, the avoidance of interests by the
Directors on issues of the Board where they are
stakeholders, and the attentiveness of the members
of the Auditing Committee in due diligence for
business performance under the principle of good
faith.		 no difference
5. If the bank has established performance of good-faith management best practice principles based on “Ethical Corporate Management
Best Practice Principles for TWSE/GTSM-Listed Companies”, please describe any discrepancy between the principles and their
implementation:
The Bank runs its operation in accordance with the “Ethical Corporate Management Best Practice Principles for TWSE/GTSM-Listed
Companies”.
6. Other vital information that helps to understand the practice of ethical corporate management of the Bank (e.g., the review and
amendment to the ethical corporate management bestpracticeprinciples of the Bank): no.
  • (VIII) Corporate Governance Practices and the relevant regulations:

Please refer to http://mops.twse.com.tw/ corporate governance.

  • (IX) Other important information:

Please refer to http://mops.twse.com.tw/important information.

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37

(X) Status of Internal Control

  1. Statement of Declaration of Internal Control System

Statement of Declaration of Internal Control System of Taichung Commercial Bank

On behalf of Taichung Commercial Bank Co ., Ltd, we hereby certify that January 1 to December 31, 2015 , the Bank has duly complied with the “Implementation Rules of Internal Audit and Internal control System of Financial Holding Companies and Banking Industries” to establish its internal control system and implementing risk management procedures. The Bank has been audited by independent auditors who submit reports to the Board of Directors and the Audit Committee on a regular basis. After prudent evaluation, except for the items listed in the attached schedule, the Bank’s each department has implemented effective internal control and compliance systems during the year to which this statement relates. This statement constitutes the summary content of Taichung Commercial Bank Annual Report of current year and the Offering Prospectus, and shall be disclosed to the public. Any misrepresentation or concealment of the aforementioned disclosures shall be liable to violation of Articles 20, 32,171 and 174 of the Securities and Exchanges Act and the legal consequences thereof.

To:

Financial Supervisory Commission

Declarant

Chairman: Chun-Sheng Lee President: Chin-Yuan Lai

Chief Auditor: Min-Chin Shen

Chief Compliance Officer: Kai-Yu Lin

Date: March 9, 2016

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38

Improvement and Corrective Action of Internal Control System of Taichung Commercial Bank

(Record Date: December 31, 2015)

Improvement Corrective Action Scheduled to
Complete
Corrective Action
on
1. In declaring the processing of
transactions involving large amount of
currency, TCB has not settled the account
on due time or the teller failed to pay
attention to the registration in the
computer systems on some transactions
that required for declaration. There are 7
counts of transactions in large sums of
currency that required declaration but no
declaration has ever been made.		 1. Declaration on the missing cases has been made on
2015.5.19.
2. The Bank has already rectified its policy by
2015.5.26 for regulating declaration of transactions
in large sum of currency:
(1) Adjustment has been made in batch processing
of NTD in postponement of the time for file
merge.
(2) Addition of the function of direct transmission
of foreign currencies in batch processing for the
direct uploading of transaction in large amount
of foreign currencies to the transaction
declaration system for checking the transactions
requiring for declaration in NTD and foreign
currencies by the system.
(3) Functions including the date and number of
transactions for large sum currency transactions
were included in the declaration system to
avoid missing declaration.
3. On 2015.8.17, account title “2179 Other payables”
has been included in the system whereby particular
transaction at the amount required for declaration
will be assigned a code for large sum transaction by
the system. Banking units shall declare on every
count of large sum currency transaction to avoid
missing.
Corrective action
was performed and
completed on
August 17, 2015.
2. In the motion of the purchase of lands for
the construction of the corporate
headquarters building, the Board failed to
request the management to give
explanation on the needs proposed by the
functional departments, which are not
relevant with the actual situation of the
corporate headquarters. The summary of
the opinions expressed by the Directors
has not been properly noted in full detail
as minutes of meeting on record. The
adverse opinions of the Directors with
written declaration have not been
forwarded to the Auditing Committee
and not disclosed in MOPS. The
assessment on the actual needs of the
procurement of the corporate
headquarters building must be performed
with caution with the opinions expressed
by the Directors tracked in full detail as
minutes of meeting on record. The
adverse opinions of the Directors shall be
brought to the attention of the Auditing
Committee and disclosed at MOPS.		 1. The Bank had conducted assessment on the actual
needs of the space for the corporate headquarters
building, including the number of persons in
accommodation, the residence of the employees, the
guest rooms, arts and cultural exhibition space,
computer machine room and alternate site for
business recovery, and has explained the variation
from the original plan of space in the building with
possible remedial action or measures proposed.
2. The Parliamentary Procedure has required the
summary of the opinions expressed by the Directors
in the session of the Board be tracked as minutes of
meeting on record, and should be appropriate. The
Bank will pay attention to the pursuit of Article 17
of the Parliamentary Procedure of the Bank in
tracking the opinions expressed by the Directors as
minutes of meeting on record in full detail to avoid
the aforementioned incidents. Directors are also
advised to present the summary of their opinions to
the Board for confirmation.
3. The Bank has forwarded the information on adverse
opinions of the Directors to the Auditing Committee
and disclosed such information on MOPS on
2016.1.15.
Corrective action
was performed and
completed on
February 22, 2016.
  • 2.Disclose the audit report by independent external auditors with a special audit on internal control system: None

39

39

  • (XI) Penalty to the Bank due to violation of applicable laws, the major shortcomings and the status of corrective action in the last 2 years to the date this report was printed.
Item Case Status of corrective action
Processing officer or staff charged by
public prosecutors on professional
misconducts		 Clerk ○○ Yan placed client’s passbook
in his/her custody and handled deposit
related business on behalf of the client
and misappropriated the client’s
deposit. The investigation conducted by
the Public Prosecutor Office of
Taichung District Court of Taiwan has
been concluded. The allegation of the
breach of trust by the Banking Act has
been prosecuted and a verdict was
reached by Taichung District Court in
August 2015 with sentence of prison
term of 4years and 6 months.		 The Bank has discussed the relevant
operating requirements and taken the
various corrective actions against the
internal control, and also continue
urging the various units that they shall
fulfill the internal contract strictly,
enhance the internal management,
complete the compliance training
program, and enhance the appraisal on
the clerks’ compliance of law and
ethics.
Fined by Financial Supervisory
Commission for violation of laws
and regulations		 None None
Disciplined by FSC under Article
61-I of the Banking Act		 None None
Casualty or accident due to
corruption, major incident or failure
to comply with the safety measures,
which caused damage exceeding
NTD 50 million in a particular
incident or inparticular fiscalyear		 None None
Other matters requiring disclosure
commanded byFSC		 None None

  • (XII) Major decision of the Shareholders’ Meeting and the Board in the most recent year to the date this report was printed.

  • Major resolutions of the regular session of the Shareholders’ Meeting in 2015 (2015.6.2) and the status of pursuit.

Cause of motion The implementation of the resolutions
The proposal of the 2014 Business Report
and financial statements		 Ratified by the General Meeting of Shareholders for the
2014 Business Report and financial statements
The 2014 proposed profit distribution. The Shareholders’ Meeting has approved the proposal for
distribution of earnings in 2014 (capitalization of retained
earnings into new shares, employee bonus and remuneration
to directors) and has been successfully accomplished on
October 7 2015.
The issuance of new shares for
capitalization for earnings in 2014.		 Passed by the General Meeting of Shareholders and
approved by Financial Supervisory Commission on July 31,
2015 under Letter Chin-Kuan-Cheng-Fa Zi No.
1040028119, and made change in the registration under
Ministry of Economic Affairs Letter Ching-Shou-Shang-Zi
No. 10401195900 dated September 17, 2015. The shares
were issued and offered in the exchange onOctober 7,2015.
Amendments to Company Corporate
Charter (Articles of Incorporation)		 Approved by Ministry of Economic Affairs under Letter
Ching-Shou-Shang-Zi No. 10401117890 dated June 17
2015.

  1. Important resolutions of the Board sessions

  2. (1) 6th Board session of 22nd term of the Board on January 28, 2015, in entering the “Bond Trade Clearing Agency Service Agreement” with China Construction Bank in bond market trade among banks.

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40

  • (2) 7th Board session of 22nd term of the Board on March 11, 2015

    • A. Ratify the motion for capital increase by recapitalization of earnings in 2015.

    • B. Ratify the date, location and cause of the general shareholders’ meeting 2015.

    • C. The proposal for the distribution of earnings in 2014 has been resolved in favor of the motion.

    • D. The motion for replacement of chief financial officer has been resolved in favor of the motion.

  • (3) 9th Board session of 22nd term of the Board on June 17, 2015

    • A. The motion for the appointment of the General Manager of the Bank has been resolved in favor of the motion.

    • B. The motion for the issuance of new common shares for raising capital in Taiwan has been resolved in favor of the motion.

  • (4) The 10[th] session of the 22[nd] term of the Board on 2015.8.7 resolved to set the ex-dividend and ex-right day for dividend payment in 2014.

  • (5) The 12[th] session of the 22[nd] term of the Board on 2015.9.23 resolved to set the conditions for raising capital by issuing new shares for FY2015 and the subscription day.

  • (6) The 13[th] session of the 22[nd] term of the Board on 2015.10.6 resolved to set the offering price of new shares for raising capital in FY 2015.

  • (XIII) Adverse opinion from directors over important resolution of the Board in the most recent year until the day the Annual Report was printed with records and written declaration, and the contents of such opinion: None.

  • (XIV) In the most recent year to the date this report was printed, the information on the resignation and discharge of parties related to financial reporting (including the Directors, Chairman, President, chief financial officer, chief accountant, chief internal auditor, and chief of R&D):

Title Name Election Date Termination Date Cause of Resignation
or Termination
Chairman Jin-Fong Soo April 1, 2011 June 16, 2015 Discharge and
retirement
President Chun-Sheng Lee October 12, 2010 June 17, 2015 Elected as the
Chairman of the
Bank
Chief financial
officer		 Kuang-Chung Hsiao June 27, 2012 March 13, 2015 Adjustment of duties

V. Disclosure of the accountant’s fee:

Firm Name CPA Name CPA Name Duration of Audit Remarks
Deloitte & Touche Min-Shen Yang Kuan-Chung Lai 2015 Q1 In response to the
internal job rotation
of the accounting
firm
Wen-Ya Hsu Kuan-Chung Lai From 2015 Q2

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41

Fee items
Fee levels		 Fee items
Fee levels		 Auditing fee Non-Auditing
fee		 Total
1 Less than 2 million
2 2(inclusive)~ 4 million
3 4 thousand(inclusive)~6 million
4 6 thousand(inclusive)~ 8 million
5 8 thousand(inclusive)~10 million
6 10 million above
  • (I) When non-audit fee paid to the auditing CPA, the CPA’s firm, and its related business entity exceeds one fourth of the audit fee, the amount of audit and non-audit fees and the content of the non-audit service should be disclosed.
Unit: NTD thousand Unit: NTD thousand Unit: NTD thousand Unit: NTD thousand Unit: NTD thousand Unit: NTD thousand Unit: NTD thousand
Firm
Name		 CPA Name Auditing
fee		 Non-Auditing fee The
duration
of the
audit
 Remarks
System
design
Corporate
Registration
Human
Resources		 Others Subtotal
Deloitte
& Touche		 Min-Shen Yang Kuan-Chung Lai
4,300
 - - - 3,063 7,363 2015 -

Wen-Ya Hsu		 Kuan-Chung Lai

Note: the non-auditing fee contained the personal information management system installation service rendered by Deloitte Taiwan at the amount of NTD 888 thousand, and information security management system version update service amounted to NTD 880 thousand. The remainder of the fee amounting to NTD 1.295 million was spent for the information security management system service, consulting fee for compliance in tax collection of foreign accounts, and the accounting fee for the capitalization of retained earnings into new shares in FY 2014.

  • (II) Change of Accounting firm and the auditing fee of the year changing the Accounting firm less than that of the previous year: None.

  • (III) Auditing fee were 15% less than that of the previous year: None.

  • VI. Changes of Accountants: The replacement of accountant in the last two years was due to the internal rotation of the CPA Firm.

  • VII. The chairman, president, chief financial or accounting manager of the Bank who holds position in the business under the commissioned CPA firm or its affiliates: None.

  • VIII. In the most recent year to the date this report was printed, Directors, managers, and the parties stated in Article 11 of the Regulations Governing the Percentage of Holding of Voting Shares Issued by Particular Bank by Particular Person or Particular Related Party that required the declaration of the holding of equity shares in the transfer of shares or pledge of shares under lien, and any change thereof.

  • (I) Changes in shareholdings:

(I)
Changes		 in shareholdings:
Title Name 2015 Until Feb. 29,2016
Increase
(decrease) in No.
of Shares		 Increase
(decrease) in
No.
of Pledged
Shares
Increase
(decrease) in
No. of Shares		 Increase
(decrease) in
No.
of Pledged
Shares
ManagingDirector Hsu Tian Investment Co.,Ltd. 20,118,655 0 0 0
Director Pan Asia Chemical Corporation 17,284,557 0 0 0
Director I JoungInvestment Co.,Ltd. 1,083,709 0 0 0
Director Ho YangManagement Consultant Co.,Ltd. 101,717 0 0 0
Independent director Chen-Le Liu 0 0 0 0
Independent Managing
Director		 Hsi-Rong Huang 0 0 0 0
Independent director Jin-Yi Lee 0 0 0 0

42

42

Title Name 2015 2015 Until Feb. 29,2016 Until Feb. 29,2016
Increase
(decrease) in No.
of Shares		 Increase
(decrease) in
No.
of Pledged
Shares
Increase
(decrease) in
No. of Shares		 Increase
(decrease) in
No.
of Pledged
Shares
President Chin-Yuan Lai 666,725 0 0 0
Senior Vice President Ching-Tai Huang 78,550 0 0 0
Senior Vice President Hsueh-Hsuan Liao 100,924 0 0 0
Senior Vice President Deh-Wei Chia 92,518 0 0 0
Executive Vice President Chi-Chuan Fang 100,620 0 0 0
Chief Compliance Officer Kai-Yu Lin 35,327 0 0 0
Chief Auditor Min-Chin Shen 87,023 0 0 0
Chief Secretary, Office of
the Board		 Chi-Chuan Fang (concurrent post) 100,620 0 0 0
Assistant VP, General
Affairs Dept.		 Ching-hu Hsieh 60,423 0 0 0
Assistant VP, Business
Dept.		 Chun-Ying Wang 103,781 0 0 0
Assistant VP, Loan
Administration Dept.		 Yi-Yuan Tung 51,983 0 0 0
Assistant VP,HR Dept. Chung-PingYang 28,730 0 0 0
Assistant VP, Accounting
Dept.		 Yi-Ying Chung 29,809 0 0 0
Assistant VP, Information
Dept.		 Chun-Sheng Lin 123,389 0 0 0
Assistant VP, International
BankingDept.
Ya-Mei Chen		 23,790 0 0 0
Assistant VP,Trust Dept. Yu-ChungLin (4,601) 0 0 0
Assistant VP, Dept of
Debt Collection and Asset
Recovery		 Mei-Li Wu 29,296 0 0 0
Assistant VP, Consumer
BankingDepartment		 Ching-Tai Huang (concurrent post) 78,550 0 0 0
Assistant VP of Treasury
MarketingDepartment		 Po-Mao Huang 33,200 0 0 0
Assistant VP, Corporate
Finance Dept.		 Kuo-Chi Lin 66,098 0 0 0
Assistant VP, Legal &
Compliance Department		 Tsung-Yi Liu 34,513 0 0 0
Assistant VP, Risk
Management Dept.		 Kuang-Chung Hsiao 48,942 0 0 0
Assistant VP, Treasury
Dept.		 Chen-Ying Wu 46,668 0 0 0
Assistant VP, Wealth
Management Dept.		 Hsien-Chih Liu 23,200 0 0 0
Asst. Executive
Vice Presidents, Overseas
BankingBranch		 Chih-Hung Lu 23,442 0 0 0
Assistant VP, Business
Dept.		 Ching-wen Shih (acting) 22,180 0 0 0
Senior Manager, W.
TaichungBranch		 Hung-Ching Chu 17,840 0 0 0
Senior Manager, Zhong
ZhengBranch		 Chien-Min Chou 45,402 0 0 0
Senior Manager, Xitun
Branch		 Li-Chu Chen 17,840 0 0 0
Senior Manager, Nantun
Branch		 Wei-Tsang Hung (acting) 17,000 0 0 0
Senior Manager, Neixin
Branch		 Ching-Tang Tsai 23,670 0 0 0
Assistant VP, Dadu
Branch		 Zai-Hong Yang 38,629 0 0 0
Senior Manager, N.
TaipingBranch		 Chung-Rong Lin 24,599 0 0 0
Assistant VP,
TaichungkangBranch		 Kuo-Chin Chi 39,282 0 0 0

43

43

Title Name 2015 2015 Until Feb. 29,2016 Until Feb. 29,2016
Increase
(decrease) in No.
of Shares		 Increase
(decrease) in
No.
of Pledged
Shares
Increase
(decrease) in
No. of Shares		 Increase
(decrease) in
No.
of Pledged
Shares
Senior Manager, Simin
Branch		 Ching-Yuan Lin 23,925 0 (27,000) 0
Senior Manager, Junkong
Branch		 Yi-Pin Lin 34,091 0 0 0
Assistant VP, S. Taichung
Branch		 Wen-Hsin Chiu 29,740 0 0 0
Manager, N. Taichung
Branch		 Yu-Ying Chen 25,522 0 0 0
Senior Manager, Houli
Branch		 Hsin-Ru Kao 47,933 0 0 0
Senior Manager, Daya
Branch		 Pao-Yuan Chen 39,160 0 0 0
Senior Manager, Tanzi
Branch		 Hui-Chin Lu 24,421 0 0 0
Senior Manager,
ShengangBranch		 Ming-Ren Hsu (19,710) 0 0 0
Assistant VP, Fongyuan
Branch		 Chiung-Teng Hung 43,756 0 0 0
Assistant VP, Dajia
Branch		 Ming-Yu Chiu 24,181 0 0 0
Assistant VP, Qingshui
Branch		 Chiung-Wen Chang 24,421 0 0 0
Assistant VP, Shalu
Branch		 Tung-Po Yang 37,686 0 0 0
Assistant VP, Wufong
Branch		 Chao-Chi Tseng 23,823 0 0 0
Senior Manager, Dongshi
Branch		 Chang-Chi Liu 40,044 0 0 0
Assistant VP, E. Fongyuan
Branch
Te-Chuan Wang		 17,840 0 0 0
Assistant VP,Wuri Branch Chun-Chun Yu 14,356 0 0 0
Assistant VP, S. Fongyuan
Branch		 Yung-Chang Lai 32,005 0 0 0
Senior Manager, Nanyang
Branch		 Pi-Hua Chang 24,809 0 0 0
Senior Manager, Nantou
Branch		 Cheng-Hsien Ni 23,343 0 0 0
Senior Manager, Zhushan
Branch		 Shin-Hsiung Huang 23,770 0 0 0
Assistant VP,Puli Branch Ching-Kun Lin 53,787 0 0 0
Manager,Caotun Branch Hsiang-Lieh Huang 37,307 0 0 0
Manager, Changhua
Branch		 Shih-Chi Chang 17,840 0 0 0
Assistant VP, Lukang
Branch		 Shu-Chen Chen 64,302 0 0 0
Assistant VP,Xihu Branch Jui-ChengYang 77,011 0 0 0
Assistant VP,Erlin Branch Yu-Chen Yang 25,965 0 0 0
Assistant VP, Peitou
Branch		 Hsin-Hsin Lee 35,854 0 0 0
Senior Manager,
TianzhongBranch		 Cheng-Yu Lai 25,783 0 0 0
Senior Manager, Yuanlin
Branch		 Shih-Yi Hsiao 17,840 0 0 0
Assistant VP, Homei
Branch		 Chih-Hao Liang 24,371 0 0 0
Manager,Shetou Branch Yung-SungChien 25,720 0 0 0
Assistant VP, Huatan
Branch		 Chih-Hua Yao 53,538 0 0 0
Senior Manager, Yongjing
Branch		 Chao-Chi Chang 36,377 0 0 0
Assistant VP, Xiushui
Branch		 Wei-Huang You 23,550 0 0 0

44

44

Title Name 2015 2015 Until Feb. 29,2016 Until Feb. 29,2016
Increase
(decrease) in No.
of Shares		 Increase
(decrease) in
No.
of Pledged
Shares
Increase
(decrease) in
No. of Shares		 Increase
(decrease) in
No.
of Pledged
Shares
Senior Manager,
ShenkangBranch		 Ming-Cheng Wu 34,830 0 0 0
Manager,Dazhu Branch Chia-Wei Tsai 28,968 0 0 0
Manager, N. Yuanlin
Branch		 Chun-Min Huang 23,152 0 0 0
Senior Manager, Peitou
Branch		 Shih-Huei Wang 27,409 0 0 0
Assistant VP, Peitun
Branch		 Chih-Hung Wu 24,651 0 0 0
Manager,Puxin Branch Kuang-Chih Chen 31,830 0 0 0
Assistant VP, Taipei
Branch		 Yu-Hsien Shen 19,840 0 0 0
Senior Manager, Lungjing
Branch		 Hui-Chen Chao 31,422 0 0 0
Assistant VP, Songshan
Branch		 Yung-Chiang Yu 0 0 0 0
Senior Manager,
SanzhongBranch		 Kuo-Liang Ho 38,142 0 0 0
Senior Manager,
KaohsiungBranch		 Wen-Kai Tsai 24,911 0 0 0
Senior Manager, Linko
Branch		 Yin-Ta Tsai 24,268 0 0 0
Manager,Huwei Branch Chien-Hao Chen 24,871 0 0 0
Manager,Yuanli Branch Liu Chin-Shan 24,270 0 0 0
Senior Manager, Zhunan
Branch		 Yu-Jui Liu 23,180 0 0 0
Manager,Dounan Branch Chen-HsiangChuang 26,772 0 0 0
Assistant VP, Neihu
Branch		 Jui-Chang Lee 34,542 0 0 0
Assistant VP, Ban Chiao
Branch		 Liang-Wen Chiang 19,840 0 0 0
Assistant VP, Feng Shan
Branch		 Chiang-Kai Liu 34,073 0 0 0
Senior Manager,
XinzhuangBranch		 Shu-Lan Huang 30,576 0 0 0
Manager, Min Hsiung
Branch		 Yi-Cheng Liao 24,538 0 0 0
Assistant VP, Taoyuan
Branch		 Cheng-Ming Yang 17,840 0 0 0
Senior Manager,
YongkangBranch		 Tsung-Hsien Lee 25,113 0 0 0
Senior Manager, Chu Pei
Branch		 Cheng-Huan Huang 38,304 0 0 0
Assistant VP, Nan Kang
Branch		 Hsin-Fa Wang 22,018 0 0 0
Senior Manager, Neili
Branch		 Hua-Hsing Wen 48,086 0 0 0
Assistant VP, Hsinchu
Branch		 Chao-Ching Wu 23,200 0 0 0
Manager, Kueishan
Branch		 Yu-Hui Tseng 22,280 0 0 0
Senior Manager, Jhongli
Branch		 Pei-Miao Jan 41,375 0 0 0
Senior Manager, Hsin
FengBranch		 Chien-Hung Lin 23,323 0 0 0
Senior Manager, Tayuan
Branch		 Ting-Kuang Huang 22,606 0 0 0
Senior Manager, Yangmei
Branch		 Jr-Hsin Lee 34,235 0 0 0
Manager,TuchengBranch Chun-wen Chen 22,946 0 0 0
Manager,FuxingBranch Tien-Hou Tsai 35,663 0 0 0

45

45

Title Name 2015 2015 Until Feb. 29,2016 Until Feb. 29,2016
Increase
(decrease) in No.
of Shares		 Increase
(decrease) in
No.
of Pledged
Shares
Increase
(decrease) in
No. of Shares		 Increase
(decrease) in
No.
of Pledged
Shares
Manager, Zhongshan
Branch		 Chi-Jen Chang 0 0 0 0
Manager,TaitungBranch Chien-Min Feng 21,130 0 0 0
Assistant VP, Changhua
Regional Center		 Cheng-Wen Ni 31,629 0 0 0
Assistant VP, North
Regional Center		 Rung-Kuo Cheng 43,419 0 0 0
Shareholders holding
more than 5%		 Chen-Hai Lin ( 7,825,313)
0
0
0
The same related party to
the shareholder holding
more than 5%		 Ho Yang Management Consultant Co., Ltd. 101,717
0
0
0
Shareholders holding
more than 10%		 China Man-Made Fiber Co., Ltd. 105,865,453 64,000,000
0
0
The same related party to
the shareholder holding
more than 10%		 Kuei-Fong Wang 65,718
0
0
0
The same related party to
the shareholder holding
more than 10%		 Chou Chang Co., Ltd. 1,033,212
0
0
0
The same related party to
the shareholder holding
more than 10%		 Pan Asia Chemical Corporation 17,284,557
0
0
0
The same related party to
the shareholder holding
more than 10%		 Deh Hsing Investment Co., Ltd. 923,218
0
0
4,500,000
The same related party to
the shareholder holding
more than 10%		 Formosawine Vintners Corporation 204,476
0
0
0
The same related party to
the shareholder holding
more than 10%		 Hsu Tian Investment Co., Ltd. 20,118,655
0
0
0
The same related party to
the shareholder holding
more than 10%		 Bang Yu Investment Co., Ltd. 682,024
0
0
0
The same related party to
the shareholder holding
more than 10%		 Chou Chin Industrial Co., Ltd. 5,517,264
0
0
0

==> picture [39 x 63] intentionally omitted <==

(II) Information of shares ownership transfer: Not applicable, because the counterparts of said shares ownership transfer are not stakeholders.

(III) Information of shares ownership pledge: Not applicable, because the counterparts of said shares ownership pledge are not stakeholders.

46

46

February 29, 2016 Remarks
If there are related parties, spouses, kindred within the 2nd tier
under the Civil Code among the top 10 shareholders, give the
names and affiliations of such shareholders		 Relation Brother of the Chairman of
Board of its parents		 Brothers None Brother of the Chairman of
Board of its subsidiary		 Brothers
Spouses		 None None The same as chairman None The same as chairman None None Spouses None None None None
Name Pan Asia Chemical Corporation Pan Asia Chemical Corporation
Responsible person: Kuei-Fong
Wang		 None China Man-Made Fiber
Co., Ltd.		 China Man-Made Fiber
Co., Ltd.
Responsible person: Kuei-Hsien
Wang
Hsu Tian Investment Co., Ltd.
Responsible Person: Chia-Chun
Chiang		 None None Wan Bau Development
Co., Ltd.		 None Lin Yuan Investment Co., Ltd. None None Pan Asia Chemical Corporation
Responsible person: Kuei-Fong
Wang		 None None None None
Shareholdings under the
title of a third party		 Ratio of
Shareholding		 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Quantity 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Shares Held by Spouse
& Dependents		 Ratio of
Shareholding		 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Quantity 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Own shareholdings Ratio of
Shareholding		 22.33% 0 8.36% 5.79% 0.01% 4.66% 0 3.29% 0 1.56% 0 1.32% 0 1.16% 0.09% 1.11% 0.98%
Quantity 710,859,467 0 266,220,428 184,361,307 359,718 148,344,340 0 104,670,969 0 49,685,732 0 42,005,217 0 36,802,962 3,020,111 35,496,907 31,351,862
Name China Man-Made Fiber Co., Ltd. China Man-Made Fiber Co., Ltd.
Responsible person: Kuei-Hsien Wang		 Chen-Hai Lin Pan Asia Chemical Corporation Pan Asia Chemical Corporation
Responsible person: Kuei-Fong Wang		 Far Glory Life Insurance Corporation Ltd. Far Glory Life Insurance Corporation Ltd.
Responsible Person: Chi-Hua Tung		 Lin Yuan Investment Co., Ltd. Lin Yuan Investment Co., Ltd.
Responsible person: Ong-Chuan Lin		 Wan Bau Development Co., Ltd. Wan Bau Development Co., Ltd.
Responsible person: Ong-Chuan Lin		 Hsu Tian Investment Co., Ltd. Hsu Tian Investment Co., Ltd.
Responsible Person: Chia-Chun Chiang		 Taiwan Fire & Marine Insurance Co., Ltd. Taiwan Fire & Marine Insurance Co., Ltd.
Responsible person: Tai-Hung Lee		 Special Account for Investment of the Central
Bank of Norway in custody of
Citibank(Taiwan)		 Netherlands Pension Robert Bacal Investment
Account at Citibank

47

  • X. Quantity of shareholdings of the same investee by the Bank and directors, presidents, Executive Vice Presidents, Asst. Executive Vice Presidents, supervisors of the various departments and branches, and direct or indirect subsidiaries in proportion to the combined holdings.

Proportion of overall shareholding

December 31, 2015

Unit: share; %

Unit: share; % Unit: share; %
Investee
(Note)		 Investment made by the Bank Investment made by directors,
presidents, executive vice
presidents, assistant VPs,
supervisors of branches, and
direct or indirect subsidiaries		 Combined investment
Quantity Ratio of
Shareholding		 Quantity Ratio of
Shareholding		 Quantity Ratio of
Shareholding
Taichung Bank Insurance
Brokers Co., Ltd.
50,000,000 100.00 - - 50,000,000 100.00
Reliance Securities
Investment Trust Co., Ltd.

12,000,000		 38.46 979,200 3.14 12,979,200 41.60
Taichung Bank Leasing
Co., Ltd.
185,000,000 100.00 - - 185,000,000 100.00
Taichung Commercial
Bank Securities Co., Ltd.
150,000,000 100.00 - - 150,000,000 100.00

Note: Investment made pursuant to Article 74 of the Banking Act.

48

48

Four. Status of Capital Planning

I. Shares and Dividends

(I) Sources of shares and dividends

Year and
month		 Issuing
price		 Authorized shares capital Authorized shares capital Paid-in shares capital Paid-in shares capital Remarks Remarks
Quantity of Stock
(Shares)		 Amount (NTD) Quantity of Stock
(Shares)		 Amount (NTD) Sources of
shares and
dividends		 Others
September
2015		 10 4,320,000,000 43,200,000,000 3,034,002,713 30,340,027,130 Recapitalization
of earnings
None
December
2015		 10 4,320,000,000 43,200,000,000 3,184,002,713 31,840,027,130 Issuance of
common stock
for cash		 None

Note: The Shareholders’ Meeting passed the capitalization of retained earnings amounting to NTD 1,824,964,040 into 182,496,404 new shares at NTD 10/share in the session on June 2, 2015 at the approval of FSC under Letter Chin-Kuan-Cheng-Fa-Zi No. 1040028119 dated July 31, 2015. The Board passed the motion of raising capital amounting to NTD 1,500,000,000 by issuing 150,000,000 new shares at NTD 10/share on June 17, 2015 and approved by FSC in Letter Chin-Kuan-Cheng-Fa-Zi No. 1040033134 dated September 1, 2015.

Stock Type Authorized shares capital Authorized shares capital Authorized shares capital Remarks
Outstanding shares Unissued Shares Total
Registered
common shares		 3,184,002,713 1,135,997,287 4,320,000,000 Listed

(II) Composition of Shareholders

February 29, 2016

Composition of
Shareholders
Amount

Government
Apparatus		 Financial
Institution		 Other Juridical Individual Foreign
Institution and
Foreigner		 Total
No. of Person 3 2 214 87,835 179 88,233
Shares 31 185,147,302 1,285,922,317 1,459,144,365 253,788,698 3,184,002,713
Ratio of
Shareholding (%)		 0.00 5.81 40.39 45.83 7.97 100

49

49

(III) Diversification of Shareholdings

NTD 10/share

February 29, 2016

February 29, 2016
Range of Shares No. of Shareholders Shares Ratio of
Shareholding (%)
1 to 999 35,153 8,268,443 0.26
1,000 to 5,000 27,018 61,733,506 1.94
5,001 to 10,000 9,346 64,935,642 2.04
10,001 to 15,000 5,208 63,182,301 1.98
15,001 to 20,000 2,293 39,380,233 1.24
20,001 to 30,000 2,877 69,481,069 2.18
30,001 to 50,000 2,272 87,217,487 2.74
50,001 to 100,000 1,920 130,255,136 4.09
100,001 to 200,000 1,087 146,862,299 4.61
200,001 to 400,000 567 155,253,129 4.88
400,001 to 600,000 158 76,524,153 2.40
600,001 to 800,000 87 61,000,362 1.92
800,001 to 1,000,000 45 40,227,161 1.26
1,000,001 to 1,200,000 46 50,168,535 1.58
1,200,001 to 1,400,000 25 32,278,712 1.01
1,400,001 to 1,600,000 15 22,264,141 0.70
1,600,001 to 1,800,000 19 32,259,159 1.01
1,800,001 to 2,000,000 8 15,105,027 0.47
2,000,001 and above 89 2,027,606,218 63.68
Total 88,233 3,184,002,713 100.00

50

50

(IV) Name of Principle shareholder

February 29, 2016

February 29, 2016
Stock
Name of Principle shareholder
Shares		 Ratio of
Shareholding
China Man-Made Fiber Co., Ltd. 710,859,467 22.33%
Chen-Hai Lin 266,220,428 8.36%
Pan Asia Chemical Corporation 184,361,307 5.79%
Far Glory Life Insurance Corporation Ltd. 148,344,340 4.66%
Lin Yuan Investment Co., Ltd. 104,670,969 3.29%
Wan Bau Development Co., Ltd. 49,685,732 1.56%
Hsu Tian Investment Co., Ltd. 42,005,217 1.32%
Taiwan Fire & Marine Insurance Co., Ltd. 36,802,962 1.16%
Special Account for Investment of the Central Bank of Norway in
custody of Citibank(Taiwan)		 35,496,907 1.11%
Netherlands Pension Robert Bacal Investment Account at
Citibank		 31,351,862 0.98%
  • (V) Information on market price, net value, earnings and dividends per share in the most recent 2 years

Unit: NTD; Thousand shares, %

Item Year Year
2014		 2015 Until Feb. 29, 2016
Market Price
per share		 The Highest 11.10 11.15 9.38
The Lowest 9.99 8.88 8.73
Average 10.52 10.32 9.01
Net Value
per share		 Before Distribution 12.54 12.55 12.75
After Distribution 11.55 - -
Earnings per
share
Weighted average shares		 2,815,153 3,047,153 3,184,003

EPS (before adjustment)		 1.33 1.14 0.17
EPS(after adjustment) 1.25 - -
Dividend per
share		 Cash Dividends 0.25 - -
Free-Gratis Retained Shares
Distribution		 0.64 - -
Dividends Capital Reserve
Shares Distribution		 - - -
Retained Dividends - - -
Return on
investment
Analysis		 P/E ratio (before the distribution) 7.88 8.97 -
P/E ratio(after the distribution) 8.38 - -
Dividend Yield 42 - -
Cash Dividend Yields 2.39 - -

51

51

  • (VI) Dividend Policy and the Status of Implementation

  • Dividend policy in the Bank’s Articles of Incorporation:

    • Refer to Note 29 to the consolidated financial statements, under the title of Shareholder’ Equity (III) Distribution of earnings and dividend policy.

  • The proposal of the distribution of earnings in current session of the General Meeting of Shareholders:

Refer to Note 29 to the consolidated financial statements, under the title of Shareholder’ Equity (III) Distribution of earnings and dividend policy.

(VII) The effect of stock dividend proposed to the General Meeting of the Shareholders on the operation performance of the Bank and the earnings per share: The Bank did not disclose its financial projection for FY2016, and it is not applicable here.

  • (VIII)Remuneration to employees and directors: (pay attention to amendment to the law)

  • Ratio of Shareholding or scope of Remuneration to employee, and directors as stated in the Bank’s Articles of Incorporation: Refer to Note 29 to the consolidated financial statements, under the title of Shareholder’ Equity (III) Distribution of earnings and dividend policy.

  • The basis for the estimation of the amount for the remuneration to employees and directors, and the basis for the quantity of shares as remuneration to employees, and the accounting of the difference between the estimation and the actual amount of remuneration, if applicable:

The estimation of remuneration to employees and directors in current period is based on the estimated amount for release in accordance with the Articles of Incorporation of the Bank and based on the earnings before taxation without the estimation of remuneration to the employees and directors and income tax as stated in the audited financial statement of 2015. The proposed amount of remuneration to the employees and the directors is NTD 22.061 million and NTD 58.160 million, respectively, and will be paid in cash. The actual amount paid was NTD 4.221 million more than the estimated amount in book for 2015 due to the difference in the estimates and the exact account settlement of profit for 2015, and was recognized as adjustment of earnings before taxation in 2016. If the shareholders’ meeting resolves the actual allocated amount different from the estimate, it shall be handled as the “change in accounting estimates” in the year of the resolution made by the shareholders’ meeting.

  1. Proposal of distribution passed by the Board: Please refer to Note XXX- (VI) Expense on employee benefits in the consolidated financial statement.

  2. The exact amount of remuneration to employees and directors in the previous year (including the quantity of shares released, the amount and the stock price), and the difference between the recognized amount of remuneration to employees and directors, the cause of the difference and the response to the difference: The Shareholders’ Meeting on June 2, 2015 resolved to release remuneration to employees and directors amounting to NTD 253,953 and NTD 126,977, respectively. The difference between the remuneration to employees and directors amounting to NTD 250,000 and NTD 125,000, respectively, as recognized in the financial statement of 2014 was recognized as income in 2015.

  3. (IX) Repurchase of the Bank Shares: None.

52

52

II. Issuance of Financial Bonds

Type 1stterm of 2009 Subordinated Financial
Bonds		 2ndterm of 2009 Subordinated Financial
Bonds
Date & Approval No. Ching-Kuan-Yin (4) Tze No. 09800104050
dated March 20, 2009		 Ching-Kuan-Yin (4) Tze No. 09800104050
dated March 20, 2009
Issue Date June 26, 2009 December 10, 2009
Face Value NTD 100,000 NTD 500,000
Place of Issue and Trading Taiwan R.O.C. Taiwan R.O.C.
Currency NTD NTD
Issuing price At Par Value At Par Value
Total amount NTD 1.8 billion NTD 0.1 billion
Interest rate Annual interest rate is index interest rate
plus 1.40%.
Index interest rate is the displayed floating
rates for one-year term deposits of
Chunghwa Post Co., Ltd.		 Coupon rate at 2.75% fixed rate.
Maturity 7 years, matured on June 26, 2016 7 years, matured on December 10, 2016
Seniority Prevail over the shareholders’ right to
allocate residual property, and follow the
Company’s depositors and other creditors		 Prevail over the shareholders’ right to
allocate residual property, and follow the
Company’s depositors and other creditors
Guarantee Institution None None
Trustee None None
Consignee None None
Certified Lawyer None None
Certified CPA None None
Certified financial institution None None
Repayment Methods Repayment in lump sum upon maturity Repayment in lump sum upon maturity
Unredeemed balance NTD 1.8 billion NTD 0.1 billion
Paid-in shares capital in last
Fiscal Year		 NTD 13,719,006 thousand NTD 13,719,006 thousand
After-tax Net Worth in last
Fiscal Year		 NTD 15,504,958 thousand NTD 15,504,958 thousand
Performance Normal Normal
Redemption or earlier
redemption		 None None
Conversion and exchange
conditions		 None None
Limitation Article Subordinated bond Subordinated bond
Fund utilization plan Strengthen financial structure, upgrade
capital adequacy ratio and expand business
scale		 Strengthen financial structure, upgrade
capital adequacy ratio and expand business
scale
Balance of Bonds as a Ratio of
Shareholding of After-tax net
worth		 27.09% 27.73%
Whether it is accounted for
equity capital and type		 Tier II Capital Tier II Capital
Name of credit rating agency,
date of rating and ratings		 Fitch Ratings Limited; September 25, 2015
BBB+ (twn), F2 (twn), with stable outlook		 Fitch Ratings Limited; September 25, 2015
BBB+ (twn), F2 (twn), with stable outlook

53

53

Type 3rdterm of 2009 Subordinated Financial
Bonds		 4thterm of 2009 Subordinated Financial
Bonds
Date & Approval No. Ching-Kuan-Yin (4) Tze No. 09800104050
dated March 20, 2009		 Ching-Kuan-Yin (4) Tze No. 09800104050
dated March 20, 2009
Issue Date December 18, 2009 December 30, 2009
Face Value NTD 500,000 NTD 500,000
Place of Issue and Trading Taiwan R.O.C. Taiwan R.O.C.
Currency NTD NTD
Issuing price At Par Value At Par Value
Total amount NTD 1.2 billion NTD 1.1 billion
Interest rate Annual interest rate is index interest rate
plus 1.50%.
Index interest rate is the displayed floating
rates for one-year term deposits of
Chunghwa Post Co., Ltd.		 Annual interest rate is index interest rate
plus 1.48%.
Index interest rate is the displayed floating
rates for one-year term deposits of
Chunghwa Post Co., Ltd.
Maturity 7 years, matured on December 18, 2016 6.5 years, matured on June 30, 2016
Seniority Prevail over the shareholders’ right to
allocate residual property, and follow the
Company’s depositors and other creditors		 Prevail over the shareholders’ right to
allocate residual property, and follow the
Company’s depositors and other creditors
Guarantee Institution None None
Trustee None None
Consignee None None
Certified Lawyer None None
Certified CPA None None
Certified financial institution None None
Repayment Methods Repayment in lump sum upon maturity Repayment in lump sum upon maturity
Unredeemed balance NTD 1.2 billion NTD 1.1 billion
Paid-in shares capital in last
Fiscal Year		 NTD 13,719,006 thousand NTD 13,719,006 thousand
After-tax Net Worth in last
Fiscal Year		 NTD 15,504,958 thousand NTD 15,504,958 thousand
Performance Normal Normal
Redemption or earlier
redemption		 None None
Conversion and exchange
conditions		 None None
Limitation Article Subordinated bond Subordinated bond
Fund utilization plan Strengthen financial structure, upgrade
capital adequacy ratio and expand business
scale		 Strengthen financial structure, upgrade
capital adequacy ratio and expand business
scale
Balance of Bonds as a Ratio of
Shareholding of After-tax net
worth		 35.47% 42.57%
Whether it is accounted for
equity capital and type		 Tier II Capital Tier II Capital
Name of credit rating agency,
date of rating and ratings		 Fitch Ratings Limited; September 25, 2015
BBB+ (twn), F2 (twn), with stable outlook		 Fitch Ratings Limited; September 25, 2015
BBB+ (twn), F2 (twn), with stable outlook

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Type 1stterm of 2010 Subordinated Financial
Bonds		 3rdterm of 2010 Subordinated Financial
Bonds
Date & Approval No. Ching-Kuan-Yin (4) Tze No. 09800104050
dated March 20, 2009		 Ching-Kuan-Yin (4) Tze No. 09900204230
dated June 4, 2010
Issue Date January 28, 2010 June 25, 2010
Face Value NTD 500,000 NTD 10,000,000
Place of Issue and Trading Taiwan R.O.C. Taiwan R.O.C.
Currency NTD NTD
Issuing price At Par Value At Par Value
Total amount NTD 0.6 billion NTD 0.9 billion
Interest rate Annual interest rate is index interest rate plus
1.50%.
Index interest rate is the displayed floating
rates for one-year term deposits of
Chunghwa Post Co., Ltd.
Annual interest rate is index interest rate
plus 1.75%.
Index interest rate is the displayed floating
rates for one-year term deposits of
Chunghwa Post Co., Ltd.
Maturity 7 years, matured on January 28, 2017 7 years, matured on June 25, 2017
Seniority Prevail over the shareholders’ right to
allocate residual property, and follow the
Company’s depositors and other creditors		 Prevail over the shareholders’ right to
allocate residual property, and follow the
Company’s depositors and other creditors
Guarantee Institution None None
Trustee None None
Consignee None None
Certified Lawyer None None
Certified CPA None None
Certified financial institution None None
Repayment Methods Repayment in lump sum upon maturity Repayment in lump sum upon maturity
Unredeemed balance NTD 0.6 billion NTD 0.9 billion
Paid-in shares capital in last
Fiscal Year		 NTD 13,719,006 thousand NTD 13,719,006 thousand
After-tax Net Worth in last
Fiscal Year		 NTD 15,361,003 thousand NTD 15,361,003 thousand
Performance Normal Normal
Redemption or earlier
redemption		 None None
Conversion and exchange
conditions		 None None
Limitation Article Subordinated bond Subordinated bond
Fund utilization plan Strengthen financial structure, upgrade
capital adequacy ratio and expand business
scale		 Strengthen financial structure, upgrade
capital adequacy ratio and expand business
scale
Balance of Bonds as a Ratio of
Shareholding of After-tax net
worth		 46.87% 54.03%
Whether it is accounted for
equity capital and type		 Tier II Capital Tier II Capital
Name of credit rating agency,
date of rating and ratings		 Fitch Ratings Limited; September 25, 2015
BBB+ (twn), F2 (twn), with stable outlook		 Fitch Ratings Limited; September 25, 2015
BBB+ (twn), F2 (twn), with stable outlook

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Type 1stterm of 2012 Subordinated Financial
Bonds		 1stterm of 2013 Subordinated Financial
Bonds
Date & Approval No. Ching-Kuan-Yin-Piao Tze No. 10100305900
dated September 24, 2012		 Ching-Kuan-Yin-Piao Tze No. 10200089330
dated April 8, 2013
Issue Date November 13, 2012 June 25, 2013
Face Value NTD 1,000,000 NTD 500,000
Place of Issue and Trading Taiwan R.O.C. Taiwan R.O.C.
Currency NTD NTD
Issuing price At Par Value At Par Value
Total amount NTD 3.0 billion NTD 2.5 billion
Interest rate Coupon rate at 2.10% fixed rate. Coupon rate at 2.10% fixed rate
Maturity 7 years, matured on November 13, 2019 7 years, matured on June 25, 2020
Seniority Prevail over the shareholders’ right to
allocate residual property, and follow the
Company’s depositors and other creditors		 Prevail over the shareholders’ right to
allocate residual property, and follow the
Company’s depositors and other creditors
Guarantee Institution None None
Trustee None None
Consignee None None
Certified Lawyer None None
Certified CPA None None
Certified financial institution None None
Repayment Methods Repayment in lump sum upon maturity Repayment in lump sum upon maturity
Unredeemed balance NTD 3.0 billion NTD 2.5 billion
Paid-in shares capital in last
Fiscal Year		 NTD 22,338,576 thousand NTD 23,187,442 thousand
After-tax Net Worth in last
Fiscal Year		 NTD 25,461,054 thousand NTD 28,081,100 thousand
Performance Normal Normal
Redemption or earlier
redemption		 None None
Conversion and exchange
conditions		 None None
Limitation Article Subordinated bond Subordinated bond
Fund utilization plan Strengthen financial structure, upgrade
capital adequacy ratio and expand business
scale		 Strengthen financial structure, upgrade
capital adequacy ratio and expand business
scale
Balance of Bonds as a Ratio of
Shareholding of After-tax net
worth		 53.41% 48.20%
Whether it is accounted for
equity capital and type		 Tier II Capital Tier II Capital
Name of credit rating agency,
date of rating and ratings		 Fitch Ratings Limited; September 25, 2015
BBB+ (twn), F2 (twn), with stable outlook		 Fitch Ratings Limited; September 25, 2015
BBB (twn) (Compliance with the Basel III), F2
(twn), with stable outlook

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Type 2ndterm of 2013 Subordinated Financial
Bonds		 1stterm of 2015 Perpetual Non-cumulative
Subordinated Unsecured Financial
Debentures
Date & Approval No. Ching-Kuan-Yin-Piao Tze No.
10200089330 dated April 8, 2013		 Ching-Kuan-Yin-Piao Tze No. 10400200460
dated August 26, 2015 and
Ching-Kuan-Yin-Piao Tze No. 10400251970
dated October 28,2015
Issue Date December 16,2013 December 28,2015
Face Value NTD 500,000 NTD 10,000,000
Place of Issue and Trading Taiwan R.O.C. Taiwan R.O.C.
Currency NTD NTD
Issuing price At Par Value At Par Value
Total amount NTD 3.0 billion NTD 1.5 billion
Interest rate Coupon rate at 2.10% fixed rate Annual interest rate is index interest rate plus
3.08%. Index interest rate is the displayed
floating rates for one-year term deposits of
Chunghwa Post Co.,Ltd.
Maturity 6years,matured on December 16,2019 No maturitydate
Seniority Prevail over the shareholders’ right to
allocate residual property, and follow the
Company’s depositors and other creditors		 Senior to the right of distribution of
remaining property of the shareholders and
junior to the bearers of Class II capital
instruments, depositors and general
creditors to the Bank.
Guarantee Institution None None
Trustee None None
Consignee None None
Certified Lawyer None None
Certified CPA None None
Certified financial institution None None
Repayment Methods Repayment in lump sum upon maturity From the 5thanniversary (inclusive) after the
issuance, redemption could be made in full
before maturity at face amount plus payable
interests subject to the approval of the
competent authority.
Unredeemed balance NTD 3.0 billion NTD 1.5 billion
Paid-in shares capital in last
Fiscal Year		 NTD 23,187,442 thousand NTD 28,515,063 thousand
After-tax Net Worth in last
Fiscal Year		 NTD 28,081,100 thousand NTD 35,756,457 thousand
Performance Normal Normal
Redemption or earlier
redemption		 None From the 5thanniversary (inclusive) after the
issuance, redemption could be made in full
before maturity at face amount plus payable
interests subject to the approval of the
competent authority.
Conversion and exchange
conditions		 None None
Limitation Article Subordinated bond Subordinated bond
Fund utilization plan Strengthen financial structure, upgrade
capital adequacy ratio and expand business
scale		 Strengthen financial structure, upgrade
capital adequacy ratio and expand business
scale
Balance of Bonds as a Ratio of
Shareholding of After-tax net
worth		 58.89% 44.47%
Whether it is accounted for
equitycapital and type		 Tier II Capital Tier I Capital
Name of credit rating agency,
date of rating and ratings		 Fitch Ratings Limited; September 25, 2015
BBB (twn) (Compliance with the Basel III),
F2(twn),with stable outlook		 Fitch Ratings Limited; September 25, 2015
A-(twn); stable【Rating on the issuer】

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  • III. No preferred share, overseas depository receipt, employee stock options, and mergers and acquisitions or acceptance of the assigned instruments from other financial institutions: None.

  • IV. Implementation of Fund utilization plan

  • (I) Contents of the plan:

    1. The Bank has raised capital of NTD 1.5 billion by issuing new common stock at NTD 10/share in 2015. The investment has been fully paid by November 30, 2015 and was listed in the exchange on December 3, 2015.

    2. The Bank issued the 1[st] perpetual non-cumulative unsecured subordinated financial debentures amounting to NTD 1.5 billion in 2015 with investment paid in full and listed in TWSE on December 28, 2015 for trading.

  • (II) Status of implementation:

    1. The Bank has issued perpetual non-cumulative unsecured subordinated financial debentures in December 2015 for the successful raising of NTD 1.5 billion. The fund raised was used as loans for the enlargement of the scale of operation.

    2. After the successful raising of capital, the Bank has used the fund as working capital in supporting different needs in financing as planned, and has completed the execution in Q4 2015. The information on the use of fund was disclosed in MOPS on October 8, 2015 and January 8, 2016, respectively.

    3. The issuance of perpetual non-cumulative unsecured subordinated financial debentures is for funding working capital and reinforcement of the capital structure. The financial ratios, capital adequacy rate, corporate earnings, and changes in earnings per share are shown below:

Year
Financial ratio		 2015 2014 The changes
ROA (%) 0.63 0.73 (0.1)
ROE (%) 9.19 11.22 (2.03)
Capital adequacy ratio (%) 11.94 11.64 0.3
Net income (Thousand NTD) 3,402,004 3,789,840 (387,836)
Earnings per share (NTD) 1.14 1.25 (0.11)

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Five. Operation Profile

  • I. Business Contents

  • (I) Principal business of the Bank by business type:

    1. Deposit Operations:

Passbooks, check deposits, certificates of deposit, negotiable certificates of deposit.

  1. Corporate Finance:

For different forms of financing (general loan, project loan and policy loan), syndicated loans, and factoring.

  1. Consumer banking:

For mortgage loan, small-cap credit line, second mortgage loan, automobile loan and credit card.

  1. Foreign Exchanges Operations:

Import, export, foreign exchange settlements, deposits, and loans of foreign currency.

  1. Wealth Management:

Administer the planning and execution of the financial planning businesses throughout the bank, management of financial planning staff, preparation and revision of the wealth management policy and operating procedure, and promotion, supervision and management of wealth management customers’ investment in the financial planning business.

  1. E-banking Operations:

Running the business of personal/corporate internet banking, mobile banking, physical ATM, virtual ATM, online cash receiver, telephone voice service, package transfer/remittance, and collection service (tuition fee, community management fee).

  1. Trust Operations:

Running the business of custodian agent in special money trust for investment in domestic and overseas securities, certification of securities, real estate trust, prepayment trust, particular purpose money trust, and securities investment trust.

  1. Investments Operations:

Dispatch of funds in NTD and foreign currency, foreign exchange, marketable securities trading and long-term equity investment.

  1. TMU business:

Provide a diversity of financial instruments and financial consultation services for the needs of the customers in hedging and investment.

  • (II) Assets under respective business units and/or their proportion to total assets and/or revenue, and the status of growth:

  • Deposit Operations:

Unit: NTD thousand;% Unit: NTD thousand;% Unit: NTD thousand;% Unit: NTD thousand;% Unit: NTD thousand;% Unit: NTD thousand;%
Item Year 2015 2014 Comparison between 2015 and 2014

Increase
Increase (decrease) in
Amount Proportion Amount Proportion
(decrease) in
amount
proportion
Check deposits 6,703,617 1.32 6,943,768 1.51 (240,151) (3.46)
Current Current deposits 137,306,747 27.06 112,020,389 24.45 25,286,358 22.57
deposits Current savingdeposits
110,418,572		 21.77 103,338,662 22.55 7,079,910 6.85
Subtotal 254,428,936 50.15 222,302,819 48.51 32,126,117 14.45
Time deposits 112,711,494 22.21 101,102,031 22.06 11,609,463 11.48
Time
dit		 Time savingdeposits 139,369,307 27.47 133,802,848 29.20 5,566,459 4.16
eposs Subtotal 252,080,801 49.68 234,904,879 51.26 17,175,922 7.31
Others Accounts transfer and
deposits viapost office
863,454 0.17 1,045,021 0.23 (181,567) (17.37)
Total 507,373,191 100.00 458,252,719 100.00 49,120,472 10.72

Note 1: Current deposits and Current deposits include deposits in foreign currencies and treasury deposits.

Note 2: Accounts transfer and deposits via post office include the national development fund tied in with accounts transfer and deposits.

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2. Corporate Finance:

Unit: NTD thousand; %

Unit: NTD thousand;% Unit: NTD thousand;%
Year
Item		 2015 2014 Comparison between 2015 and
2014
Amount Proportion
Amount		 Proportion Increase (decrease)
in amount
Increase
(decrease) in
proportion
Balance of loans to SMEs 157,056,289 73.91 152,586,305 73.05 4,469,984 2.93
Balance of loans to large-size
enterprises		 26,528,541 12.48 26,579,814 12.73 (51,273) (0.19)
Balance of corporate Finance
loans in NTD		 183,584,830 86.39 179,166,119 85.78 4,418,711 2.47
Balance of loans in foreign
currency		 28,922,236 13.61 29,701,254 14.22 (779,018) (2.62)
Total 212,507,066 100.00 208,867,373 100.00 3,639,693 1.74

3. Consumer banking:

(1) Personal line of credit

Unit: NTD thousand; %

Unit: NTD thousand;% Unit: NTD thousand;%
Year
Item		 2015 2014 Comparison between 2015 and
2014
Amount Proportion Amount Proportion Increase (decrease)
in amount
Increase
(decrease) in
proportion
Home mortgage loan 52,679,883 97.09 54,976,132 96.74 (2,296,249) (4.18)
Home improvement loan 402,765 0.74 547,926 0.97 (145,161) (26.49)
Otherpersonal consumer loans
1,177,774		 2.17 1,302,227 2.29 (124,453) (9.56)
Total 54,260,422 100.00 56,826,285 100.00 (2,565,863) (4.52)

(2) Credit card

Unit: NTD thousand; card; %

Unit: NTD thousand;card;% Unit: NTD thousand;card;%
Year
Item		 2015 2014 Comparison between 2015 and
2014
Amount Amount Increase (decrease)
in amount
Increase
(decrease) in
proportion
YearlySales Volume 5,023,838 4,626,320 397,518 8.59
Revolvingcredit balance 238,549 207,695 30,854 14.86
Effective Cards 195,966 155,587 40,379 25.95

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4. Foreign Exchanges Operations:

Unit: USD thousand; %

Unit: USD thousand;% Unit: USD thousand;%
Year
Item		 2015 2014 Comparison between 2015 and
2014
Amount Proportion
Amount		 Proportion Increase (decrease)
in amount
Increase
(decrease) in
proportion
Import 1,653,647 12.57 2,031,194 14.27 (377,547) (18.59)
Export 724,152 5.51 749,677 5.27 (25,525) (3.40)
Outward remittance 5,603,460 42.61 5,855,182 41.13 (251,722) (4.30)
Inward remittance 5,170,490 39.31 5,597,868 39.33 (427,378) (7.63)
Total 13,151,749 100.00 14,233,921 100.00 (1,082,172) (7.60)
Balance of deposits at the end
of theyear		 1,342,746 1,059,905 282,841 26.69
Balance of loans at the end of
theyear		 897,994 955,509 (57,515) (6.02)

5. Wealth Management:

Unit: NTD thousand; %

Unit: NTD thousand;% Unit: NTD thousand;%
Year
Item		 2015 2014 Comparison between 2015 and
2014
Amount Proportion
Amount		 Proportion Increase (decrease)
in amount
Increase
(decrease) in
proportion
Trust service fee revenue 494,828 45.91 537,635 51.64 (42,807) (7.96)
Insurance service fee revenue 581,302 53.94 502,604 48.28 78,698 15.66
Gold passbook commission
income		 1,643 0.15 784 0.08 859 109.57
Total 1,077,773 100.00 1,041,023 100.00 36,750 3.53

6. E-banking Operations:

(1) Number of new network accounts

Unit: account; %

Unit: account;% Unit: account;%
Year
Item		 2015 2014 Comparison between 2015 and
2014
Number of active
accounts		 Number of
new accounts		 Number of active
accounts		 Number of
new accounts		 Increase (decrease)
in number of active
accounts

Increase
(decrease) in
proportion
Number of new
network accounts		 223,461 28,982 189,348 24,928 34,113 18.02

(2) e-Banking trading ratio

Unit: transaction; %

Unit: transaction;% Unit: transaction;%
Year
Item		 2015 2014 Comparison between 2015 and
2014

Accumulative
transactions		 Proportion to
Total
Transactions%
Accumulative
transactions		 In proportion
to total
transaction
Percentage of
the counts of
transactions		 Increase
(decrease) in
transactions		 Proportion to
increase
(decrease) in
total transactions
%
e-Banking
transaction		 8,368,809 58.47 6,905,190 50.36 1,463,619 21.20

Note: The transactions exclude those for inquiries.

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7. Trust Operations:

Unit: NTD thousand; %

Unit: NTD thousand;% Unit: NTD thousand;%
Year
Item		 2015 2014 Comparison between 2015 and
2014
Amount Proportion
Amount		 Proportion Increase (decrease)
in amount
Increase
(decrease) in
proportion
Balance of investment in
domestic and overseas
marketable securities through
special monetary trustee
accounts		 46,999,137 84.62 44,492,016 82.62 2,507,121 5.63
Balance of custodyof securities 5,004,704 9.01 4,157,115 7.72 847,589 20.39
Balance of real estate trust 2,195,390 3.95 2,863,475 5.32 (668,085) (23.33)
Balance of specific independent
money management and
utilization trust		 1,211,864 2.18 2,334,720 4.34 (1,122,856) (48.09)
Balance of employee
shareholdingtrust		 134,030 0.24 - - 134,030 -
Balance of trust assets 55,545,125 100.00 53,847,326 100.00 1,697,799 3.15
Volume of certified auditors of
marketable securities		 2,211,972 - 4,121,924 - (1,909,952) (46.34)

8. Investments Operations:

Unit: NTD thousand; %

Unit: NTD thousand;% Unit: NTD thousand;%
Year
Item		 2015 2014 Comparison between 2015 and
2014
Amount Proportion Amount Proportion Increase
(decrease) in
amount		 Increase
(decrease) in
proportion
Long-term/short-term
investment revenue		 305,110 17.33 375,476 22.64 (70,366) (18.74)
Interest income – NTD currency 944,343 53.67 860,916 51.90 83,427 9.69
Interest income – foreign
currency		 293,344 16.67 244,652 14.75 48,692 19.90
TMU operatingrevenue 44,090 2.51 15,981 0.96 28,109 175.89
Exchange revenue – spot 172,764 9.82 161,712 9.75 11,052 6.83
Total income
(exclusive of the reserve fund
and own reserves)		 1,759,651 100.00 1,658,737 100.00 100,914 6.08

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  • (III) Business plan for 2016

  • Deposit Operations

    • (1) Increase deposits and remittances business and increase risk-free service fee income.

    • (2) Actively develop current deposits, improve current deposit structured ratio, and reduce capital cost.

    • (3) Continue improving SOP, simplifying routine operating, reducing operating cost and upgrading the service quality.

    • (4) Continue to strengthen e-banking services, actively promote the consumption of customers, increase service fee income, and improve processing efficiency.

    • (5) Actively develop the number of customers, promote development of the source of relevant derivatives, and develop the Bank’s potential income.

  • Corporate Finance

    • (1) Corporate loans aim a balance between qualities and quantities for adjustment in industrial structure of financing of the Bank as gravity.

    • (2) Make available for enterprises in total financial solution design and a diversity of financial products (foreign exchange, TMU, trust, wealth management) and intensify the nurturing and training of professionals in corporate banking for the development of corporate loans with the eventual outcome of development.

    • (3) Intensify the promotion of the “Micro enterprises project loans” to assist the micro enterprises to obtain working capital.

    • (4) Participate in onshore and offshore syndicated loans with priority in the assessment of credit risk and strive for the position proactively.

    • (5) Increase the size of factoring business and trade financing volume; stimulate the growth of commission income as the source of revenue.

    • (6) Support the national policy of economic development in sustained effort to support the small and medium enterprises with preferential treatment in financing, and make positive effort in supervising the financing of small and medium enterprises in upgrading, small –cap initial loan, SME project loan for consolidation, micro enterprise new business loan. Preferential interest rate will be offered for SME in good standing with promising future and stable profit. These loans will also be sent to SME Credit Guarantee Fund for reducing the credit risk of the Bank.

    • (7) Intensify the development of the market for Taiwanese enterprises overseas and to assist the enterprises to run new businesses overseas, and also for those potential firms that are lacked of collaterals to finance the guaranty from Overseas Credit Guaranteed Fund.

  • Consumer banking:

    • (1) With existing customers as the main market and new accounts as the auxiliary market for development of consumer banking system in areas where credit quality can be kept under control, including the approval and referral of the corporate headquarters and the marketing system of the branches.

    • (2) Expand the size of the marketing teams at the branches and launch more consumer banking products as long as the experience and capacity in risk control and marketing warranted for the sustained expansion of the size of sales of the whole Bank.

    • (3) Pursue the companywide marketing strategy for the effective preservation of existing accounts and proactive development of potential customer groups with

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market segmentation for better opportunities in making profit.

  • (4) Integrate the internal and external marketing channels, intensify sales among the branches in concerted efforts and in cross-industry cooperation to development product sale in scope and in depth and improve the reputation of products.

  • (5) Optimize the efficiency in review process with consideration in credit risk control and asset quality for upgrade the competitive power of products.

  • (6) Pricing will be oriented towards profits. Product of high yield will be developed and targeted to specific group of customers. With this in mind, the Bank will not include customers that many banks seek to attract. Instead, the Bank will locate customers that other banks unwilling to take on condition that the risks thereof can be kept under control.

  • (7) Make positive effort in the circulation of promotional materials and DM with telephoning to interview existing customers, and bolster the brand value of the Bank in market. Under the business philosophy of “Hearty Service”, and in support of charity sponsorship and donation, the Bank cultivated its relation with the customers in depth with positive image, and made customers more receptive to the business of the Bank and hence refers the services of the Bank to other customers.

  • Foreign Exchanges Operations

  • (1) Establish more branches qualified for running foreign exchange, and enhance the function of one-stop service at the same counter for local and foreign currency transactions to upgrade the efficiency of foreign exchange operation.

  • (2) Upgrade the function of Internet banking in foreign exchange.

  • (3) Develop trade financing business, seek more opportunity for international syndicated loans in good quality for more income.

  • (4) Continue to seek deposits in foreign currencies for augmenting working capital.

  • (5) Promotion of derivative trade and offering customers of a wider array of choices.

  • Wealth Management

  • (1) Develop new products to market and upgrade the competitive power of wealth management products:

    • A. Increase the size of overseas bond, ETF and structured notes, and similar kinds of products.

    • B. Customize wealth management products to serve customers of sizable assets and professional investors.

  • (2) Expand the business horizons of wealth management and upgrade the professional standing of the wealth management staff:

    • A. Adjust the remuneration system for running the wealth management operation to attract good quality banking staff of the Bank and experienced talents in the industry to the service for augmenting the wealth management team.

    • B. Design the training and learning program to upgrade the professional standing of the wealth management staff from internal transfer.

  • (3) Fortify the management of channels and boost the momentum of the branches in business.

    • A. Design the customer classification system for proper management to provide customers with sizable assets better service in full-range wealth management.

    • B. Organize a weekly morning meeting via videoconference to fortify the

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professional knowledge of the branch staff.

  • (4) Upgrade the function of the wealth management system platform:

    • A. Reinforce the sale management system to upgrade the efficiency of wealth management operation.

    • B. Fortify the internal control and management mechanism.

  • Trust Operations

  • (1) General Trust Operations:

    • A. LOHAS Retirement Trust: In supporting the “LOHAS Care Trust” policy advocated by the competent authority, the Bank assists the elderly and the social misfortunes in the LOHAS care system. At the same time, the Bank can also yield result in business promotion and perform its corporate social responsibility.

    • B. Ready-built premises featured reverse repurchase trust: in the wake of a changing market of real property, this product allows the customers the peace of mind in real estate trade. In addition, the Bank can offer more mortgage loans to the customers, attract more deposits, and expand the business in trust service.

    • C. Prepayment trust: development of the prepayment trust business (gift voucher trust), protect consumer rights, and broaden the basis for regular trust for bringing in more commission incomes.

    • D. Certified auditors of marketable securities: provide incentive of tax saving and lending of securities to develop accounts of securities trust, and develop business of regular trust and bring in more incomes.

    • E. Escrow: It is promoted in real estate transaction and tied in with the trust mechanism to assist the community to ensure the security of real estate transactions and fight for housing loans business in order to expand the trust business service scope.

    • F. Pre-sale house performance trust: Work with the “pre-sale house performance bond mechanism” policy promoted by the competent authorities to actively promote the business of real estate development trust and pre-sale house price trust in order to protect the rights and interests of the homebuyers and enhance transaction security.

  • (2) Financial business:

    • A. Fund purchase orders by fax service: customers can place orders for purchasing fund units by fax instructions further to over-the-counter and Internet banking system (including subscription, switching, and redemption).

    • B. Telephone transaction section (non-voice service): telephone transaction service by service personnel. Customers may directly conduct their transactions in investment and wealth management over the phone. This mode of operation is secure and efficient, and can help to develop the wealth management business of the Bank.

  • (3) Custodian agent: move further in the development of custodian service for higher business volume so as to create stable income. This would help to bolster the deposit business and commission income from trust service and management.

  • Investments Operations:

  • (1) Continue the swift flow and stability of inter-branch fund appropriation. Further to the relation with other financial institutions, the Bank will continue to seek more counterparties in call loans in foreign currencies to increase the sources of

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funding in foreign currencies and reduce the cost of capital. 

  - (2) Continue the stable streams of incomes under current foundation of business operation, and cultivate the business in depth to achieve the annual goal of budgeting.

  - (3) Pay close attention to the domestic and international political and economic situations and keep abreast of the trend of investment in market. Adjust the position of stocks and funds timely and increase the return on short-term investment. Select stocks of high potential or stable growth for band trade in order to make profit from the spread. The investment of fund is balanced in countries with net cash inflow with the selection of short maturity or in existence for 1~2 years for making investment at regular intervals to avoid the influence of particular country on investment performance.

  - (4) The position of long-term investment is maintained at the level in 2015 for bolstering the investment performance on existing foundation for better profit. Increase the stake in return on investment with additional investment in bonds denominated in NTD and foreign currencies. Upgrade the efficiency of the utilization of fund and interest income.

  1. TMU business:

    • (1) Promote derivative trade and design customized planning for hedge and financial operation to the needs of the customers.

    • (2) Cultivate customer relation, fortify the process for reviewing the limit of derivative trade, upgrade TMU products and the function of the risk control system, and continue to intensify the professional training of the sale staff to provide customers professional products and services.

  2. (IV) Market Analysis

  3. Territories of banking business

At present, the Bank has 80 branch locations and 1 Overseas Banking Branch to provide diversified business services, including personal banking, corporate banking, wealth management. The bank through business area characteristics has developed refined financial instruments, expanded business fields, and provided customers with better quality and convenient financial services through a professional business operation.

  1. Supply and Demand of the market and growth in the future

Global economic performance is expected to be better than the previous year. With the resumption of business in the semiconductor business, export of electronic products could be improved. However, economic recovery in the newly emerged economies is still slow that hampered global economic performance, which inevitably affected the momentum of export trade. In the private sector, the rise of IoT and big data entailed new business opportunities for investors. Investment in production process still constitutes a leading position and continued in the area of high-end process. In general, economic recovery has been slow but will improve in this year. DGBAT of Executive Yuan forecasted national economic growth at 1.47% in this year.

  1. Competitive niche, favorable and unfavorable factors for development in the future, and countermeasures.

  2. (1) Favorable factors

    • The Bank has, for a long time, cultivated its business relation with the small and medium enterprises in central Taiwan and hence has the distinctive advantage and a strong and stable clientele base.

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  • The experience of the Bank in servicing small and medium enterprises helps to focus its customer groups and develop differentiated mode of operation.

  • Construct the diversity of the banking service system is beneficial for integrated marketing of the organization and will yield better result.

  • Maintain the advantage of low cost of capital, as it will contribute to the profitability and competitiveness of the Bank.

  • (2) Unfavorable factors

  • The Bank still has not opened any overseas branch and loses its opportunity in business with the overseas Taiwan business firms and development.

  • The globalization of banking and finance and the cross-industry competition of financial holding companies narrow the space for the existing market of small and medium banks in banking service.

  • The high degree of homogeneity of products and the keen competition in the financial and banking sector make it difficult to broaden the interest spread.

  • There are numerous factors for the sluggish global economy and the financial environment is under the pressure of adaptation in operation.

  • (3) Countermeasures

With persistence in “stable volume with increase profit” and “advancement in stable paces”, the Bank seeks to enlarge the scale of its assets to stand firm in Taiwan and expand to other regions of Asia-Pacific. In aligning to the trend of “globalization” of Taiwan business firms, the Bank will further develop “corporate banking”, “consumer banking”, “wealth management” and “TMU operation” as the mainstream operation.

  • (V) Research and Development of financial products and status of business development

  • Primary financial products and new banking units, their sizes and income in the most recent two years

Unit: NTD thousand

Unit: NTD thousand Unit: NTD thousand
Item Until Feb. 29,2016 2015/end 2014/end
Trade Operating Trade
value/volume		 Operating
revenue		 Trade
value/volume		 Operating
revenue
value/volume revenue
Corporate Finance
Volume of corporate
loans		 183,584,830 4,701,971 179,166,119 4,732,625
184,918,457 774,526
Personal banking
Consumer loans 53,974,890 191,909 54,260,422 1,189,639 56,826,285 1,262,840
Non-Consumer loans
126,992,425		 527,168 128,173,431 3,263,955 121,509,645 2,847,219
Sales Volumeof
CreditCard		 5,023,838 125,914 4,626,320 114,896
898,013 21,718
Financial management
Stock 372,645 (31,807) 2,266,703 (74,453) 2,662,170 18,315
Fund 4,088,179 (16,279) 41,825,456 87,092 33,980,263 65,857
Certificates of
deposit bought		 653,400,000 462,359 620,800,000 449,568
113,600,000 67,862
Commercial paper
bought		 351,047,133 138,960 193,134,941 95,410
50,467,501 19,615
Bonds 2,672,221 5,748 607,778 20,385 0 25,027
Corporate bond 4,165,756 56,557 5,989,086 285,517 2,005,973 267,480

Note: Credit card business revenue includes the related service fee income and credit card revolving interest income.

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2. R&D expenditure and results in the most recent two years, and the future R&D plans

(1) R&D expenditure and result in the last 2 years: R&D spending amounted to NTD 75,670 thousand.

75,670 thousand.
Name of R&D product Descriptions of R&D Research and
Development
Results
Information management
system- foreign exchange
management		 1. Transaction detail of foreign exchange customers/data on
large sum foreign exchange/ foreign exchange volume
inquiries.
2. Printing of declaration documents by Trust Department.		 Self-developed 1. Reduce the workload in manual
processing.
2. Provide the diversity of data search
function.
3. Make the branches run foreign
exchange business better.
Bank3.0-12 business
items		 Provide customers more convenient channels for business
application.		 October 2015-Configuration Completed.
Optimization of the
foreign exchange
system		 Optimization of the foreign exchange system, adjustment of
the functions for related transactions of foreign exchange to
make the operation process simple and easy for the users.		 December 2015-Configuration Completed.
The new generation of
e-Bank		 Provide the customer a high quality electronic banking service
system (including corporate Internet banking, private Internet
banking, barrier-free Internet banking, mobile banking, FXML
transaction platform) to upgrade the competitiveness and
buttress the operation performance of electronic banking
service of the Bank, reduce the work load at the business units
and reduce the cost of service at the counters. These will
contribute to higher profit with the use of the automated
system.		 Outsourced development January 2015-Configuration Completed.
Customer Service System
Update		 Accelerate the customer service quality and continue to
moving towards a market-oriented, personalized, and refined
service direction, and introduce high-quality tele-marketing
management operation and tele-financial advisors.		 April 2015-Configuration Completed.
Sophisticated FX
options		 Provide the customers a wide array of hedge and financial
instruments with the introduction of sophisticated FX options
including the distinctive and strategic options in supporting the
FX option system upgrade of the Treasury Department.		 The installation was completed in April
2015 and makes available a full-range of
products and services to the customers.
Automation equipment
monitoring and e-journal
centralized management
system		 The function of real-time monitoring and control in case of
malfunctioning of the ATM with cash short and the centralized
management function and retrieval for viewing function of the
daily electronic transaction log.		 1. Improve the responses to machine
problem to upgrade service quality and
the ATM accounting efficiency.
2. July 2015-Configuration Completed.
Easy card project Provide a wide array of products and services with our credit
cards, and install the Easy Credit Cards, Easy Banking Card
systems.		 July 2015-Configuration Completed.
Module for interfacing
with cyber shops		 Satisfy the needs of the customers in the integration with the
online shopping malls and the capital flow system of the Bank;
provide consumers WebATM, SmartPay, and online credit card
reading for payment.		 October 2015-Configuration Completed.
The acquirer banking
EMV chips and equipment
update in credit card
operation
In supporting the launch of the ATM collection EMV chip
function of different international organizations (VISA,
MASTERCARD, JCB, and UnionPay International), the Bank
upgraded related software and hardware.		 February 2016-Configuration Completed.

(2) Development plan for the future: R&D spending amounted to NTD 92,640 thousand.

Plan in the most recent year Status Scheduled to
complete in		 Key factors to success of future R&D
Update of the Central Bank
Foreign Exchange data
processingsystem.		 90% completed. April 2016 Reduce repeated data entry to ensure data accuracy and transmission
efficiency.
Full-range collection service
network		 90% completed. April 2016 Upgrade and bolstering collection service for the customers (such as
management fee for building and membership fee for the professional
associations)and the collection and management of tuition fee service.
Opening of digital accounts
online.		 30% completed. May 2016 Align with the trend of digital banking development and make it convenient
for the customers to upgrade related certification documents online without
attending the counter for opening accounts. This service is convenient for the
public and helps to reduce the workload at the counters.
Mobile payment project 75% completed. May 2016 Establish the system of mobile payment interfacing platform; provide cell
phone credit cards, mobile banking card, and ACH accounts and other
diversifyofpayment tools.
New wealth management 60% completed. July2016 Establish a more efficient customer classification and management system for

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Plan in the most recent year Status Scheduled to
complete in		 Key factors to success of future R&D
system augmenting the operation efficiency of wealth management. Install the
platform for the planning and management of customer-oriented wealth
management to customer needs.
Risk control management in
anti-money laundering and
prevention of financing
terrorism.		 40% completed. September 2016 Establish the system for the risk management of money laundering, reinforce
the awareness of anti-money laundering of the banking personnel to realize the
anti-money laundering plan, and upgrade the competitive power of the
enterprise to the expectation of the competent authority.
Introduction to national
payment network of e-Bill		 Prospective
contractors is in
selection		 July 2016 Joint the national payment network to provide the customers more channels
for payment of fees and taxes, and the bills for daily necessities. Manage and
alert or set the function for prearrangement with customers through the
analysis of the customer payment information, and provide them related daily
expenses service.
API Management platform System under
planning		 September 2016 1. Tidy up and manage user-friendly API for the enterprises for design
optimized corporate-class application.
2. Provide the development personnel portal with access to market so that
potential customers can be attracted to and used the API. Through the
controlled mode to support connection to the network and self-service
function.
3. Through the use of simplified coding of API, including the mixed
combination of different things to transcend the environment and
technical supports of many suppliers.
4. Keep abreast of the API commonly used by the consumers through the
API management and analysis platform to discover hidden business
opportunities.
ATM withdrawal without
the use of banking card.		 System under
planning		 July 2016 Provide customers the no-card withdrawal service in conformity to the
standard accredited by FSC in network security, and establish an ATM no-card
withdrawal system.
ATM Inter-bank deposit System under
planning		 December 2016 Upgrade the ATM function of the Bank to provide customer convenient
deposit service through the installation of an inter-bank deposit ATM system.
HCE mobile payment System under
planning		 December 2016 Provide the function of mobile credit card payment for the customers using
smartphones and install the HCE credit card mobilepayment system.
New bargaining system for
foreign exchange		 System under
planning		 December 2016 Save the cost and time for bargaining over the telephone for real-time control
of foreign exchange market information.
TMO Derivatives
Transaction system		 System under
planning		 December 2016 Provide a diversity of trading and risk control mechanism.
The SFA system System under
planning		 December 2016 Install the corporate account sale management system for the efficient
“upgrade of customer service management” and “Increase the volume of
successful deals of the sale personnel”.
1. Intensify the planning and launch of corporate banking at the branches so
that the branch heads can effectively manage the overall performance and
the sale performance of the staff.
2. Assist the sales personnel to enhance sale performance incrementally
through the standard sales procedures. With the use of customer
information, time management, concern of the targeted customers, alert
mechanism, sales forecast and other management methods to improve the
efficacyof corporate bankingsalespromotion events.
“Shared component CUF
and private cloud PAAS”
system development
architecture platform		 System under
planning		 December 2016 Introduce a complete standardized software development process and establish
program development standard and basic module so that the systems can be
easily developed and maintained and the maintenance of high efficiency
cross-platform application program structure. The introduction of the PASS
private cloud service platform helps to upgrade the capacity of cloud
management.
Gold passbook APP function
System under
planning		 December 2016 Reinforce the function of the APP in existence with the addition of gold
passbook APP function for facilitating the development of wealth management
business and providing more channels for the convenience of the customers in
investment and wealth management.

(VI) Long-term and short-term business development plans

  1. Short-term business development plan: Please refer to (3) business plan for 2015.

  2. Long-term business development plan: Please refer to Section 3. Future Development Strategies of a Message to Shareholders.

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II. Employees

(I) Employees’ information

Year 2014 2015 Until Feb. 29,2016
Employee No. More than 50years old 180
231
240
More than 40years old 890
874
871
More than 30years old 498
528
527
More than 20years old 502
560
583
Less than 20years old 4
4
3
Total 2,074
2,197
2,224
Average age 38.0
38.1
38.1
Average seniority 11.4
10.9
10.7
Education Background Master 10.6%
11.6%
11.5%
Bachelor 61.0%
62.9%
63.0%
College 22.7%
20.6%
20.5%
Senior High School 5.6%
5.0%
4.9%
Junior High School 0.1%
0.0%
0.1%
Professional designation and licensing, and number of such employees Securities sales traders 305
316
317
Investment Insurance Products 993
1,030
1,097
Securities investment trust/investment
advice sales traders		 143
150
152
Initial credit extension personnel’s
professional ability		 839
891
902
Advanced credit extension personnel’s
professional ability		 39
45
45
Futures sales traders 90
95
95
Life Insurance Agent 1,735
1,680
1,852
Bond sales qualified in professional
abilitytest		 18
23
23
Initial foreign exchange personnel’s
professional ability		 462
564
570
Wealth management and planning
personnel		 487
488
492
Trust Operations Personnel 1,609
1,670
1,666
Bank’s internal control basic test 906
917
917
Senior Securities sales traders 169
182
184
PropertyInsurance Agent 1,637
1,579
1,681
Notes and bills traders 21
24
24
Marketable securities, financing and
financial instruments sales traders		 8
8
8
Internal auditor 3
3
3
Stock affairs personnel qualified in
professional abilitytest		 13
18
18
Foreign exchangeprofessional ability 9
12
12
Financial personnel’s professional
ability in appraising collaterals for
credit extension		 9
11
11

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  • (II) Employees’ advanced studies and training:

  • The Bank organizes different kinds of training programs for different banking functions (e.g.: deposit and remittance, lending, and wealth management), and appoint colleagues in professional standing in respective fields to act as the tutors in internal training for helping the employees in job design and career planning. In 2015, the Bank has organized 97 classes of trainings with 6,459 participants/participations. The spending on education and training amounted to NTD 2,969 thousand in the same period.

  • In attuning to the beats of the changeable market, the Bank requests all employees to get familiarized with the latest knowledge in banking and finance, product information, applicable laws and systems, and market trend in order to provide good qualify professional service to the customers. In practice, the Bank extensively dispatched its personnel to external training for new knowledge. In 2015, the Bank has sent 548 persons/time to participate in external training amounting to NTD 1,615 thousand.

  • The Bank upholds the philosophy of “whole-heartedness” and incorporated service courtesy and courteous languages in training. Through its internal operation procedure and education on the rule of law, the Bank allows for the internalization of benevolence into all employees, which will be manifested in their attitudes and behaviors in treating the customers and working. Employees with competence and integrity will be the foundation of the Bank in perpetual corporate development.

  • (III) Employees’ code of conduct or ethics: posted in the official website of the Bank for announcements for the inquiry and observance of the employees.

  • All employees shall be law abiding and perform their duties with utmost effort.

  • The principles of honesty, integrity, caution, diligence shall be duly observed by all and there shall be no arrogance, greed, luxury, unrestrained, loitering and gambling at the expense of the reputation of the Bank. Be humble and courteous in treating the customers and efficient at work.

  • All employees shall keep the information on the business of the Bank, the customers and their transactions, and any other secretive activities in strict confidence, and shall not disclose to any third party. This code shall be applicable to employees who resigned or discharged from the Bank.

  • Employees shall not have transaction with current customers of the Bank in lending and borrowing, or shall not act as guarantor or the subject of guarantee.

  • Employees shall not act as guarantor under their occupational title.

  • Employees shall not undertake any part-time work beyond the duties of the Bank unless otherwise approved by the Bank.

  • Employees shall not run business homogenous to the operation of the Bank, and shall not engage in any speculative works privately.

  • Except in weekend and recognized holidays, employees shall report to duties in designated span of time, and shall be punctual and shall not leave their duties before the end of the working day. In addition, no employee may be absent from their duties without the approval of the supervisor.

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(IV) Work environment and employees’ personal safety protection measures:

Item Contents
Entrance guard
safety		 1. Under the precision entrance guard control system all day.
2. Contract with the security company to maintain the safety of the office premises at nighttime and
holidays.
3. Access to the police authority hotline for caution.
Maintenance
and inspection
of equipment		 1. According to the Building Public Safety Inspection and Declaration Rules, the Bank will
commission the profession service provider to conduct the public safety inspection and report per
two or four years.
2. According to Fire Act, the Bank will outsource the fire inspection per year.
3. Proceed to the maintenance and inspection of company cars, high and low voltage electrical
appliances, elevators, air-conditioners, water fountain machine, fire safety equipment and related
equipment in accordance with applicable laws governing occupational safety and health.
Disaster
prevention
measures and
response actions		 The Bank has defined the instructions to rescue disasters and reporting procedure for occupational
accidents, such as “Disaster Urgent Response Action Manual”, “Guidelines for Dealing with Important
Contingencies”, “Instructions to Safety Protection and Organization of Relevant Business Units”,
“Labor Safety and Health Automatic Inspection Plan”, and “Instructions to Maintenance of Facility
Safety”, expressly defining the job responsibilities to be taken by the Bank’s staff before and after
important events, such as force majeure and robbery, and also requiring the various business units to
perform the robbery-proof drills.
Physical/mental
health		 1. The Bank provides the in-service staff with the health inspection service per two years.
2. No smoking at the business locations pursuant to requirements; defining the complaining
requirements and relevant punishment rules against “Sexual Harassment Control”.
3. Set up the inter-bank forum as the opinion exchange platform.
Insurance Be enrolled in the labor insurance and health insurance programs pursuant to laws. In the case of any
casualty, it is necessary to designate the dedicated personnel to safeguard evidence, contact the
insurance company, work with the accidental liability insurance investigation conducted by the
employer, filing of the claims and report to the competent authority.

III. Enterprise Responsibilities and Ethical Behavior

Refer to III-Corporate Governance Report → 3 The Status of Corporate Governance (6) The Corporate Social Responsibility → VI- other information critical to the understanding of our bank’s corporate social responsibility and how it is put into practice.

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  • IV. Number of non-executive banking staff, average fringe benefit of employee in the year and the difference from the previous year.
difference from the previous year.
Year 2014 2015 Amount of
difference
Number of non-executive banking staff 1,498 1,568 70
The average fringe benefit expense of
non-executive banking staff (NTD 1,000/person)		 NTD 969
thousand		 NTD 1,027
thousand		 NTD 58 thousand

V. IT Equipment

(I) Main hardware equipment:

Private cloud server group system, private cloud hard disk storage system, NTD main server system, server hard disk storage equipment, virtual tape reader of server, main server laser printer, FX account server, fund accounts server, hardware transaction security module (HSM), open system server group, open system disk storage equipment, Internet and information security equipment, general network equipment, and UPS.

  • (II) Main information systems:

NTD accounts, FX accounts, trust, customer service center, credit cards, collection of instruments, CRM application, Internet bank, mobile bank, Web-ATM, and gold passbook systems.

  • (III) Plans for development and procurement in the future

  • Development plan:

Update the Central Bank foreign exchange data processing system, full-range collection network, online digital account opening, mobile payment program, new wealth management system, e-Bill national payment network interface, risk management in anti-money laundering and prevention of financing terrorism program, API application management platform, ATM inter-bank deposit, ATM no-card withdrawal, HCE mobile payment, foreign exchange new bargaining system, TMO derivative trade system, sale automated system SFA, “Shared component CUF and private cloud PAAS” system development structure platform and gold passbook APP function.

  1. Procurement plan:

  2. (1) Security information and event management system upgrade:

Continue the fortification and upgrade of the “information security and security event management system”, perpetual retention of firewall, intrusion prevention system, commissioned server, mail scanning equipment, antivirus server, WSUS server, E-Mail server, web pages and program monitoring system, external service websites and weakness scanning server equipment or log books for subsequent review and identification of problems and served as evidence. Use the analysis result and the warning from the information security and security event analysis system for reducing the workload of information security staff.

  • (2) Reinforcement of the IT security:

Network security has been effectively protected with several layers of security technologies and measures for reducing the risk of the threat from virus, computer worms, BotNet and other Internet attacks, including the use of firewall, attack prevention system, antivirus portal, and server antivirus. These help to prevent different types of network attacks with accuracy and can respond in real-time to reduce possible damage to the system for overall information security protection.

  • (3) Inter-data center virtual storage device:

Addition of virtual storage function for automatic switching at the time of storage equipment failure without interruption of service.

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  • (4) Alternate site backup function reinforcement:

Broaden the scope of alternate backup site function through the expansion of systems at a lower level of importance further to the critical system already installed.

  • (IV) Emergency and safety protection assessments:

  • Various server backup at the Center:

    • (1) “Cross-strait Three Centers” backup facility: The Bank has a main center, two cross-strait sub-centers, and remote backup center to provide synchronous storage services. In addition to have data stored in two sub-centers synchronously for backup service, the important systems are stored in the remote backup center to hedge against the impact of disasters.

    • (2) Server room: There are three sets of UPS with three battery packs installed in the main center, in addition, two sets of generators will keep the server computer in the main center operated normally in case of power failure.

    • (3) Alternate backup site: In the event of a disaster during regular banking hours, the alternate backup site can recover the critical system within 4 hours (such as: deposit, loan, foreign exchange settlement, ATM, foreign exchange and funds) to maintain essential business.

    • (4) The remote backup service drill is performed twice a year to strengthen staff proficiency in operation and integrity of document verification.

  • Business unit backup:

    • (1) Each business unit is with the backup network constructed.

    • (2) The business unit with the linking system failed can operate the process at the nearby branches.

    • (3) The Information Department is equipped with appropriate linking workstation equipment that is ready to support the business unit operation at any time.

  • Data protection and security:

    • (1) The Bank introduced the digital copyright and document collaborative management platform for the prevention of data leak and undue use or theft of data. On this platform, sensitive data will be encrypted with file collaborative and sharing function to reduce the risk of data leak.

    • (2) Support the editing of different types of documents for work efficiency and real-time sharing of information and to help upgrade productivity.

  • The Bank’s computer and network equipment are protected against computer viruses and hackers:

    • (1) The Bank’s Windows system (including Server and PC) are equipped with anti-virus software, always updated with the latest virus code, and automatically updated all connected PC.

    • (2) The Bank has multiple backup systems (including traditional backup and continuous snapshot protection) constructed to provide different levels of data protection.

    • (3) Established the network operations monitoring and management system, and implement the network operations monitoring, reports analysis, trend forecasting, performance bottleneck analysis, network setup automatic backup, LOG records and storage, auditing, and tracking.

    • (4) To strengthen the anti-virus and anti-hacking effort, equip the mail content filtering protection system is to screen and control personal information in order to effectively prevent leakage of personal information and enhance information security. With the filtering of junk mails and prohibition the use of external mail IP.

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Comply with the safety policies and laws and regulations to screen, test, change, produce logs, and archive messages in order to meet the requirement of data reservation.

  • (5) Filtering of webpages and mails: Filter the contents of webpages to reduce the access of harmful contents (such as malicious software, malicious websites and spam) to the Bank’s intranet, and also prohibit users from accessing live messengers, pornographic websites, illegal software, P2P file sharing, chatroom, streaming media and malicious websites to reduce the computer’s risk of being hacked.

  • (6) Prohibition of connection to external network, USB storage devices, and writing devices to reduce the risk of data leak.

  • (7) An events gathering and analysis system is constructed to manage the copies and filing of the day log collectively and extend the log reservation period in compliance with regulatory requirements. Day log in different formats (layout) can be integrated to collect and index information events, provide fast query and auditing information events, and define the risk level and severity of the information events with the responsible person informed immediately.

  • (8) AD directory service management, teller terminal, general PC and Server are added into AD directory service domain for centralized management and preventing unauthorized use.

  • (9) The network connection of computer equipment is locked to prevent any unauthorized connection of external computer in order to enhance information security.

  • (10) Construct network protection and detection systems, filter Web virus and prevent website tamper, and strengthen network information security.

  • (11) Double firewall mechanisms: Construct firewall in the Internet terminal, internal server, and important area. Double firewalls are configured as thermo backup mode to enhance backup capability.

  • (12) Construct IPS, monitor connection to the DMZ area (such as, network banking, portals, etc.), server area (such as, applied servers, database servers, etc.), and teller’s external website, and may set the sealing and filtering rules according to the actual need and practice in order to initiate an active defense mechanism.

  • (13) The external applied software is programmed with initial code verification mechanism to prevent the occurrence of software vulnerabilities that give hackers chances to attack.

  • (14) Database audit system is to record the user’s accessing to the databases for authorization control and post-even audit.

  • (15) Commission private information security vendors regularly to test the Bank’s network service and information security vulnerability and penetration, and set internal vulnerability scanning system to scan the business systems automatically, and enhance system security mechanism.

  • (16) Proceed with information safety propagation and education per year.

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  • VI. Labor-Management Relations

  • (I) Current important employees’ interest, Labor-Management Agreement and the status of execution:

    1. Staff fringe benefits

      • (1) Provide labor insurance, national health insurance, and group accident insurance.

      • (2) Staff bonus and Free-Gratis Dividends.

      • (3) Scholarships for the children of Staffs.

      • (4) Gifts for Spring Festival and Mid-Autumn Festival, subsidies for marriage, funeral and other celebrities, funds for travels, and staff birthdays.

      • (5) Periodic health inspection.

      • (6) Employee shareholding trust

    2. Retirement system:

      • (1) Pension will be disbursed to employees under the Retirement Regulation of the Bank.

      • (2) The Bank contributed to the employee pension fund under the Statute for Labor Retirement.

      • (3) Traveling expenses, birthday celebration subsidy and gifts for employees about to retire.

    3. Other important benefits:

      • (1) At the end of the year, the unconsumed special leave of the employees that is less than 1/3 of the total days of the special leave in the current year will be compensated with salary paid in the following year.

      • (2) In 2015, 85 banking staff in 3 tiers were dispatched to Zhengzhou in China for training.

      • (3) Rules for Reward & Compensation for the Acquisition of License and Certificate by Staff.

    4. Labor-management agreement: None

    5. Employees’ interest and right protection assessments:

      • (1) Personnel Review Committee’s functions: Review of in-service staff’s promotion and performance appraisal guidelines, review of in-service staff’s promotion and performance appraisal cases, and review of employees reward and punishment, review of applications, staff appraisal or reconsideration of the assessment, and other review related matters.

      • (2) The scope of labor-management meeting agenda: Development of labors, business plan and overview of business, mediation of labor-management relations, promotion of labor-management cooperation, labor terms and conditions, labor benefits planning, and enhancement of working efficiency.

  • (II) Labor-management dispute: None.

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VII. No loss or compensation for the time being

Major Agreements
Nature of Agreement		 Contracting Parties Term of Agreement Limitation
Article
Maintenance
agreement		 NEC Taiwan Ltd. 2015.2.1-2018.12.31 Mainframe alternate site backup
system maintenance program		 None
Maintenance
agreement		 IBM 2015.4.10-2017.4.9 Data warehouse development and
testing maintenance		 None
Maintenance
agreement		 NEC Taiwan Ltd. 2016.1.1-2016.12.31 Foreign exchange mainframe system
update maintenance		 None
Labor service
procurement
contracts		 Towerway Architects &
Associates		 2016.1.05- Construction
completed		 Appointment of supervision and
technical design services for the
construction of the corporate
headquarters new building		 None
Construction
contract		 EARTH POWER Construction
Co., Ltd.		 2015.9.16-2016.3.31 Works for the exterior walls of
building a Minchuan Road		 None
Service agreement Goyun Security Co., Ltd. 2015.7.1-2017.6.30 Security guards at corporate
headquarters		 None
Service agreement Goyun Security Co., Ltd. 2015.9.1-2017.8.31 Security guards at the banking
locations		 None
Service agreement Leebao Security Co., Ltd. 2014.6.1-2017.5.31 Outsourced fund delivery None
Service agreement Leebao Security Co., Ltd.
Anfeng Enterprise Co., Ltd.		 2016.3.4-2018.3.3 ATM cash loading and problem
elimination service		 None
Service agreement Transnational Group of
Companies		 2014.6.21-2016.6.20 Outsourced financial instruments and
documents courier service		 None

VIII. Securitized products and related information: None.

77

77

Six. Financial Status

  • I. The consolidated balance sheet and comprehensive income statement within the last five years - International Financial Reporting Standards (IFRS)

Brief Balance Sheet (Consolidated)

Unit: NTD thousand

Year
Item		 Year
Item		 Financial information from thepastyears Financial information from thepastyears Financial information from thepastyears Financial information from thepastyears Financial data of the
year up to February
29,2016
2012 2013 2014 2015
Cash and cash equivalent, Due from
Central Bank and lend to Banks		 77,067,387 81,087,462 91,867,062 96,325,425 106,977,171
Financial assets at fair value through
profit and loss		 6,545,279 12,195,016 13,011,606 31,693,725 25,893,099
Available-for-Sale Financial Assets 18,519,719 19,197,158 20,711,997 23,770,062 29,888,400
Bonds and securities sold under
repurchase agreements		 - 4,550,801 1,545,361 6,994,022 4,595,683
Receivable,net 3,910,270 6,485,651 8,118,751 6,653,345 7,472,032
Current income tax asset 57,466 57,372 1,021 5,895 1,126
Notes discounted and loans – net 324,029,419 362,916,674 384,382,280 391,083,582 392,951,382
Held-to-maturityfinancial assets 8,782,945 3,340,584 1,418,003 5,559,399 6,643,448
Investment byequitymethod - net 132,769 142,654 140,282 136,612 126,786
Restricted assets 24,122 164,290 341,093 535,475 422,050
Other financial assets – net 905,934 1,158,259 1,206,142 1,090,841 1,143,102
Property, plant,and equipment – net 3,445,166 3,416,335 5,103,786 9,271,750 9,317,040
Intangible assets – net 64,696 97,380 143,759 183,995 176,108
Deferred tax assets – net 308,454 391,478 579,650 759,682 725,395
Other assets 1,147,646 1,011,621 1,479,607 1,566,905 1,689,364
Total assets 444,941,272 496,212,735 530,050,400 575,630,715 588,022,186
Due to Central Bank of China and banks 5,151,548 8,341,508 10,697,387 3,864,104 7,903,534
Funds borrowed from Central Bank and
other banks		 2,414,205 4,968,239 3,499,960 3,132,454 3,132,460
Financial liabilities at fair value through
profit and loss		 91,591 74,800 133,360 179,557 237,404
Bills and bonds sold under repurchase
agreements		 264,045 358,769 273,573 273,312 1,663,312
Payables 9,148,347 4,420,341 7,363,659 5,181,226 9,339,978
Current Tax Liability 274,962 292,018 218,945 386,746 453,544
Customer deposits and remittances 385,510,895 429,704,469 455,966,124 504,863,979 507,083,372
Financial bondspayable 13,548,277 16,042,869 14,400,000 15,900,000 15,700,000
Other financial liabilities 17,208 111,741 340,296 279,014 419,310
Liabilityreserve 261,451 348,829 777,562 1,095,522 1,112,666
Deferred tax liabilities 111,021 111,021 111,021 111,021 111,021
Other liabilities 239,403 400,541 512,056 417,791 262,981
Total liabilities Before
Distribution		 417,032,953 465,175,145 494,293,943 535,684,726 547,419,582
After
Distribution		 417,264,827 465,688,702 495,006,820 - -
Equityof theparent company
Capital stock 23,187,442 25,345,339 28,515,063 31,840,027 31,840,027
Capital surplus 675,537 675,435 683,751 684,156 684,156
Retained earnings Before
Distribution		 3,952,998 5,050,993 6,402,783 7,073,521 7,606,612
After
Distribution		 2,040,034 2,958,195 3,864,942 - -
Other equity 92,342 (34,177) 154,860 348,285 471,809
Total equity Before
Distribution		 27,908,319 31,037,590 35,756,457 39,945,989 40,602,604
After
Distribution		 27,676,445 30,524,033 35,043,580 - -

Note 1: The financial information for the most recent years has been audited by accountant.

Note 2: Current year financial information up to February 29, 2016 is prepared by us.

78

78

Brief balance sheet (individual)

Unit: NTD thousand

Year
Item		 Year
Item		 Financial information from thepastyears Financial information from thepastyears Financial information from thepastyears Financial information from thepastyears Financial data of the
year up to February
29,2016
2012 2013 2014 2015
Cash and cash equivalent, Due from
Central Bank and lend to Banks		 76,652,227 80,856,904 91,009,735 95,411,081 106,108,508
Financial liabilities at fair value through
profit and loss		 6,545,279 12,057,223 12,989,306 31,527,246 25,657,071
Available-for-Sale Financial Assets 18,519,719 19,008,479 20,595,620 23,665,097 29,780,740
Bonds and securities sold under
repurchase agreements		 - 4,550,801 1,545,361 6,994,022 4,595,683
Receivable,net 2,899,507 2,769,426 3,206,796 2,656,553 3,073,897
Current income tax asset 56,589 56,589 - - -
Notes discounted and loans – net 324,029,419 362,450,039 383,570,399 390,315,171 391,999,940
Held-to-maturityfinancial assets 8,782,945 3,340,584 1,418,003 5,559,399 6,643,448
Investment byequitymethod - net 1,301,748 2,694,057 4,106,028 4,324,242 4,350,603
Other financial assets – net 905,934 1,158,259 1,206,142 1,090,841 1,102,872
Property, plant,and equipment – net 3,440,175 3,371,423 5,050,610 9,208,471 9,256,859
Intangible assets – net 64,398 90,231 98,797 141,887 134,810
Deferred tax assets – net 308,454 421,461 565,541 732,369 695,283
Other assets 1,134,008 770,353 1,185,689 1,240,375 1,320,112
Total assets 444,640,402 493,595,829 526,548,027 572,866,754 584,719,826
Due to Central Bank of China and banks
5,151,548		 8,341,508 10,697,387 3,864,104 7,903,534
Funds borrowed from Central Bank and
other banks		 1,887,600 2,086,000 - - -
Financial liabilities at fair value through
profit and loss		 91,591 74,800 133,360 179,557 237,404
Bills and bonds sold under repurchase
agreements		 264,045 358,769 273,573 273,312 1,663,312
Payables 9,059,246 3,964,393 6,775,222 4,367,328 8,358,811
Current Tax Liability 263,278 266,823 162,662 342,773 387,570
Customer deposits and remittances 385,862,841 430,698,048 457,207,953 506,546,470 508,406,406
Financial bondspayable 13,548,277 16,042,869 14,400,000 15,900,000 15,700,000
Other financial liabilities 17,208 7,605 1,620 369 306
Liabilityreserve 261,451 537,040 777,562 1,095,522 1,112,666
Deferred tax liabilities 111,021 111,021 111,021 111,021 111,021
Other liabilities 213,977 225,578 251,210 240,309 236,192
Total liabilities Before
Distribution		 416,732,083 462,714,454 490,791,570 532,920,765 544,117,222
After
Distribution		 416,963,957 463,228,011 491,504,447 - -
Equityof theparent company
Capital stock 23,187,442 25,345,339 28,515,063 31,840,027 31,840,027
Capital surplus 675,537 675,435 683,751 684,156 684,156
Retained earnings Before
Distribution		 3,952,998 4,894,778 6,402,783 7,073,521 7,606,612
After
Distribution		 2,040,034 2,801,980 3,864,942 - -
Other equity 92,342 (34,177) 154,860 348,285 471,809
Total equity Before
Distribution		 27,908,319 30,881,375 35,756,457 39,945,989 40,602,604
After
Distribution		 27,676,445 30,367,818 35,043,580 - -

Note 1: The financial information for the most recent years has been audited by accountant. Note 2: Current year financial information up to February 29, 2016 is prepared by us.

79

79

Brief Income Statement (Consolidated)

Unit: NTD thousands; Earnings Per Share: NTD

Year
Item		 Financial information from thepastyears Financial information from thepastyears Financial information from thepastyears Financial information from thepastyears Financial
information in
2016 to February
29
2012 2013 2014 2015
Interest revenue 8,615,114 9,917,145 11,116,277 11,591,190 1,942,704
Less: interest expense 3,132,380 3,606,878 3,954,300 4,116,426 711,461
Net interest income 5,482,734 6,310,267 7,161,977 7,474,764 1,231,243
Net income other than interest
income		 1,572,073 2,953,985 3,553,022 2,627,977 311,458
Net revenue 7,054,807 9,264,252 10,714,999 10,102,741 1,542,701
Bad debt expense and guaranty
reserve		 (248,661) (1,864,173) (1,982,816) (744,283) (12,114)
Operatingexpenses (3,449,898) (3,863,100) (4,508,965) (5,221,901) (899,658)
Income before taxation of
continued operations		 3,356,248 3,536,979 4,223,218 4,136,557 630,929
Income tax(expense) gain (552,078) (476,708) (484,893) (659,525) (97,837)
Current year profit of continuing
business units		 2,804,170 3,060,271 3,738,325 3,477,032 533,092
Income from discontinued
operations		 - - - - -
Currentyear netprofit(net loss) 2,804,170 3,060,271 3,738,325 3,477,032 533,092
Current period other
comprehensive income (net, after
tax)		 (36,786) (175,831) 51,515 (75,028) 123,524
Current period other
comprehensive income(Gross)		 2,767,384 2,884,440 3,789,840 3,402,004 656,616
Net profit attributable to parent
company		 2,804,170 3,060,271 3,738,325 3,477,032 533,092
Net profit attributable to
non-controllinginterest		 - - - - -
Comprehensive income, gross, and
net profit attributable to parent
company		 2,767,384 2,884,440 3,789,840 3,402,004 656,616
Comprehensive income, gross,
attributable to non-controlling
interest		 - - - - -
Earningsper share 1.13 1.16 1.25 1.14 0.17

Note 1: The financial information for the most recent years has been audited by accountant. Note 2: Current year financial information up to February 29, 2016 is prepared by us.

Note 3: Due to the Bank’s capital increase by recapitalization of earnings in 2011 to 2014, the 2012 to 2014 weighted average number of shares outstanding and “earnings per share" is adjusted retrospectively.

80

80

Brief Income Statement (Individual)

Unit: NTD thousands; Earnings Per Share: NTD

Year
Item		 Financial information from thepastyears Financial information from thepastyears Financial information from thepastyears Financial information from thepastyears Financial
information in
2016 to February
29
2012 2013 2014 2015
Interest revenue 8,595,438 9,748,834 10,790,389 11,250,261 1,894,477
Less: interest expense 3,133,655 3,577,160 3,890,334 4,044,283 699,165
Net interest income 5,461,783 6,171,674 6,900,055 7,205,978 1,195,312
Net income other than interest
income		 1,407,175 2,663,824 3,085,127 2,106,154 217,485
Net revenue 6,868,958 8,835,498 9,985,182 9,312,132 1,412,797
Bad debt expense and guaranty
reserve		 (238,244) (1,834,591) (1,889,937) (692,292) (3,472)
Operatingexpenses (3,294,891) (3,498,586) (3,937,408) (4,552,008) (779,929)
Income before taxation of
continued operations		 3,335,823 3,502,321 4,157,837 4,067,832 629,396
Income tax(expense) gain (531,653) (442,050) (419,512) (590,800) (96,304)
Current year profit of continuing
business units		 2,804,170 3,060,271 3,738,325 3,477,032 533,092
Income from discontinued
operations		 - - - - -
Currentyear netprofit(net loss) 2,804,170 3,060,271 3,738,325 3,477,032 533,092
Current period other
comprehensive income (net, after
tax)		 (36,786) (175,831) 51,515 (75,028) 123,524
Current period other
comprehensive income(Gross)		 2,767,384 2,884,440 3,789,840 3,402,004 656,616
Net profit attributable to parent
company		 - - - - -
Net profit attributable to
non-controllinginterest		 - - - - -
Comprehensive income, gross,
and net profit attributable to
parent company		 - - - - -
Comprehensive income, gross,
attributable to non-controlling
interest		 - - - - -
Earningsper share 1.13 1.16 1.25 1.14 0.17

Note 1: The financial information for the most recent years has been audited by accountant.

Note 2: Current year financial information up to February 29, 2016 is prepared by us.

Note 3: Due to the Bank’s capital increase by recapitalization of earnings in 2011 to 2014, the 2011 to 2014 weighted average number of shares outstanding and “earnings per share" is adjusted retrospectively.

81

81

II. Balance Sheet and Income Statement from the most recent years – R.O.C. GAAP Brief Balance Sheet (Consolidated)

Unit: NTD thousand

Unit: NTD thousand Unit: NTD thousand
Year
Item		 Financial information from the past years
2011 2012
Cash and cash equivalent, Due from Central Bank and lend to
Banks		 82,617,629 77,017,387
Financial assets at fair value through profit and loss 1,096,769 6,545,279
Available-for-Sale Financial Assets 4,211,580 18,519,719
Discounts and loans 277,756,366 324,029,419
Accounts receivable 2,868,589 3,564,983
Held-to-maturity financial assets 9,439,040 8,782,945
Stocks- equity method 127,811 126,683
Assets held for sale 41,639 -
Fixed assets 3,339,207 3,349,941
Other financial assets 850,396 905,934
Other assets 1,894,542 1,830,648
Total assets 384,243,568 444,672,938
Due to Central Bank of China and banks 3,439,998 5,151,548
Customer deposits and remittances 333,691,650 385,510,895
Financial liabilities at fair value through profit or loss 51,804 91,591
Bills and bonds sold under repurchase agreements - 264,045
Funds borrowed from Central Bank and other banks, Financial
bondspayable		 13,390,109 15,962,482
Payables 7,721,427 8,997,553
Accruable pension liabilities 136,764 223,704
Other financial liabilities 22,521 17,208
Other liabilities 328,241 372,812
Total liabilities Before
Distribution		 358,782,514 416,591,838
After
Distribution		 358,894,207 416,823,712
Capital stock Before
Distribution		 22,338,576 23,187,442
After
Distribution		 23,187,442 24,868,532
Capital surplus 675,537 675,537
Retained earnings Before
Distribution		 2,212,377 4,029,776
After
Distribution		 1,251,818 2,116,812
Unrealized revaluation increment 283,744 283,744
Unrealized gains on financial instruments 10,960 91,865
Cumulative translation adjustments - 477
Other shareholders’ equity (60,140) (187,741)
Total shareholders’ equity Before
Distribution		 25,461,054 28,081,100
After
Distribution		 25,349,361 27,849,226

Note: The financial information for the most recent years has been audited by accountant.

82

82

Brief balance sheet (individual)

Unit: NTD thousand

Unit: NTD thousand Unit: NTD thousand
Year
Item		 Financial information from the past years
2011 2012
Cash and cash equivalent, Due from Central Bank and lend to
Banks		 82,617,614 76,602,227
Financial assets at fair value through profit and loss 1,096,769 6,545,279
Available-for-Sale Financial Assets 4,211,580 18,519,719
Discounts and loans 277,756,366 324,029,419
Accounts receivable 2,888,283 2,553,343
Held-to-maturity financial assets 9,439,040 8,782,945
Stocks- equity method 216,970 1,295,662
Assets held for sale 41,639 -
Fixed assets 3,335,981 3,325,763
Other financial assets 850,396 905,934
Other assets 1,892,043 1,811,777
Total assets 384,346,681 444,372,068
Due to Central Bank of China and banks 3,439,998 5,151,548
Customer deposits and remittances 333,832,631 385,862,841
Financial liabilities at fair value through profit or loss 51,804 91,591
Bills and bonds sold under repurchase agreements - 264,045
Funds borrowed from Central Bank and other banks, Financial
bondspayable		 13,390,109 15,435,877
Payables 7,683,501 8,896,768
Accruable pension liabilities 136,764 223,704
Other financial liabilities 22,521 17,208
Other liabilities 328,299 347,386
Total liabilities Before
Distribution		 358,885,627 416,290,968
After
Distribution		 358,997,320 416,522,842
Capital stock Before
Distribution		 22,338,576 23,187,442
After
Distribution		 23,187,442 24,868,532
Capital surplus 675,537 675,537
Retained earnings Before
Distribution		 2,212,377 4,029,776
After
Distribution		 1,251,818 2,116,812
Unrealized revaluation increment 283,744 283,744
Unrealized gains on financial instruments 10,960 91,865
Cumulative translation adjustments - 477
Other shareholders’ equity (60,140) (187,741)
Total shareholders’ equity Before
Distribution		 25,461,054 28,081,100
After
Distribution		 25,349,361 27,849,226

Note: The financial information for the most recent years has been audited by accountant.

83

83

Brief Income Statement (Consolidated)

Unit: NTD thousands; Earnings Per Share: NTD

Unit: NTD thousands;Earnings Per Share: NTD Unit: NTD thousands;Earnings Per Share: NTD
Year
Item		 Financial information from the past years
2011 2012
Net interest income 4,943,924 5,480,061
Net income other than interest income 835,828 1,559,615
Bad debt expenses (664,948) (248,661)
Operating expenses (3,181,517) (3,466,328)
Income before tax from continuing operations 1,933,287 3,324,687
Income after taxation of continued operations 1,454,000 2,777,958
Profit and loss from discontinued operations (after tax) - -
Extraordinary profit and loss (after tax) - -
Cumulative effect of change in accounting principle (after tax) - -
Net income 1,454,000 2,777,958
Earnings per share 0.76 1.2

Note 1: The financial information for the most recent years has been audited by accountant.

Note 2: The Board session in July 7, 2011 resolved to raise capital of NTD 450 million by issuing new shares for pooling up equity capital. In consideration of the capitalization of retained earnings in 2011, the weighted average outstanding shares and the EPS shall be subject to retroactive adjustment.

Brief income statement (individual)

Unit: NTD thousands; Earnings Per Share: NTD

Unit: NTD thousands;Earnings Per Share: NTD Unit: NTD thousands;Earnings Per Share: NTD
Year
Item		 Financial information from the past years
2011 2012
Net interest income 4,943,296 5,459,110
Net income other than interest income 769,561 1,394,607
Bad debt expenses (664,948) (238,244)
Operating expenses (3,133,733) (3,311,211)
Income before tax from continuing operations 1,914,176 3,304,262
Income after taxation of continued operations 1,454,000 2,777,958
Profit and loss from discontinued operations (after tax) - -
Extraordinary profit and loss (after tax) - -
Cumulative effect of change in accounting principle (after
tax)		 - -
Net income 1,454,000 2,777,958
Earnings per share 0.76 1.20

Note 1: The financial information for the most recent years has been audited by accountant.

Note 2: The Board session in July 7, 2011 resolved to raise capital of NTD 450 million by issuing new shares for pooling up equity capital. In consideration of the capitalization of retained earnings in 2011, the weighted average outstanding shares and the EPS shall be subject to retroactive adjustment.

The names of CPA conducting financial audits in the most recent five years and their audit opinions

Year
Audit		 2011 2012 2013 2014 2015
Deloitte & Touche Wen-Ya Hsu
Tzu-Chun Wang		 Wen-Ya Hsu
Tzu-Chun Wang		 Min-Shen Yang
Tzu-Chun Wang		 Min-Shen Yang
Kuan-Chung Lai		 Wen-Ya Hsu
Kuan-Chung Lai
Audit opinions Modified
unqualified
opinions
(Note 1)		 Modified
unqualified
opinions
(Note 1)		 Standard
unqualified
opinion		 Standard
unqualified
opinion		 Modified
unqualified
opinions
(Note 2)

Note 1: The CPA audited the equity investment of Reliance Securities Investment Trust Co., Ltd. and Taichung Bank Leasing Co., Ltd. under equity method in the financial statements 2011 to 2012 based on the audit report issued by the other CPA, and the modified unqualified opinions were issued therefore.

Note 2: The Bank started to apply the amended Criteria for the Compilation of Financial Statements by Public Banks, which came into effect in 2015. Due to the retroactive adjustment of the financial statements compiled before the application of the new criteria and the items under influence, modified unqualified opinion was given.

84

84

III. Financial Analysis for the most recent five years

Financial Analysis - International Financial Reporting Standards (consolidated)

Year
Analytical items		 Year
Analytical items
Financial Analysis for the most 4 years
Financial Analysis for the most 4 years
Financial Analysis for the most 4 years
Financial Analysis for the most 4 years
2012 2013 2014 2015
Operating
ability		 Loans to deposits ratio (%) 84.90
85.47
85.49
78.69
NPL ratio (%) 0.37
0.58
0.34
0.33
Interest expenses to annual average
deposit ratio(%)		 0.87

0.88
0.89
0.86
Interest income to annual average loan
ratio(%)		 2.77

2.78
2.85
2.86
Total assets turnover (times) 0.02
0.02
0.02
0.02
Average operation revenue per employee
(thousand)		 3,361

4,171
4,513
4,041
Employee average profit rate (thousand) 1,336
1,378
1,575
1,391
Profitability Return on Tier I Capital (%) 13.07
12.31
12.85
11.11
ROA (%) 0.68
0.65
0.73
0.63
ROE (%) 10.55
10.38
11.22
9.19
Net profit rate (%) 39.75
33.03
34.89
34.42
Earnings per share (NTD) 0.99
1.09
1.25
1.14
Financial
structure		 Liabilities to total assets ratio (%) 93.67
93.67
93.11
92.87
Ratio of real estate and equipment to
equity (%)		 12.34

11.01
14.27
23.21
Growth rate Asset Growth Rate (%) 15.79
11.52
6.81
8.6
Profit Growth Rate (%) 73.60
5.38
19.40
(2.05)
Cash flows Cash flow ratio (%) 63.00
-
39.76
151.10
Cash flow adequacy ratio (%) 1,331.29
1,021.91
693.72
460.70
Cash flow for operating to cash flow
from investingratio(%)		 (66.40)

-
(1,341.35)
(157.17)
Liquidity Reserve Ratio (%) 19.74
20.76
20.3
25.25
Related party secured loans (NTD thousand) 1,869,324
1,596,200
1,662,958
1,711,302
Related party secured loans to total loan ratio (%) 0.56
0.42
0.41
0.42
Operating
Scale		 Asset market share (%) 0.94
0.97
0.95
0.99
Market share of net worth (%) 0.99
1.02
1.06
1.10
Market share of deposits (%) 1.18
1.25
1.25
1.30
Market share of loans (%) 1.51
1.64
1.66
1.64

Explanation for the reason of changes in financial ratios exceeding 20% in the past two years:

  1. The ratio of real properties and equipment to equity increased from the level of FY2014: mainly because the net value of real properties and equipment in FY2015 increased by NTD 4.168 billion as compared with the same period of FY2014.

  2. Asset growth rate rose from the level of FY2014: mainly because the total assets in FY2015 increased by NTD 45.580 billion as compared with the same period of FY2014. However, total assets in FY2014 indicated growth of NTD 33.806 billion from the same period of FY2013.

  3. Profitability growth fell from the level of FY1014: mainly because the earnings before taxation in FY2015 decreased by NTD 87 million from the same period of FY2014, while the earnings before taxation in FY2014 increased by NTD 686 million from the same period of FY2013.

  4. Cash flow ratio increased from 2014: mainly due to the increase of net cash flow from operation amounting to NTD 9.379 billion from NTD 8.371 billion in 2014 to NTD 17.750 billion in 2015.

  5. Cash flow adequacy ratio fell from the level of FY2014: mainly because the capital expenditures in FY2015 and the previous 5 years increased by NTD 4.277 billion from the same period FY2014 and the previous 5 years.

  6. Cash flow adequacy ratio increased from 2014: this is because the net cash flow from investment in 2015 amounted to NTD (11.294 billion), which showed an increase of NTD 10.67 billion from NTD (624 million) in 2014, with the increase of net cash flow from operation amounting to NTD 9.379 billion.

  7. Liquidity reserve ratio increased from 2014: this is because the net amount of commercial paper under the actual liquidity reserve in 2015 increased by NTD 24.171 billion from the same period of 2014, and the basis for provision of liquidity reserve increased by NTD 35.442 from 2014.

85

85

Financial Analysis - ROC Financial Accounting Standards (consolidated)

Year
Analytical items		 Year
Analytical items
Financial Analysis for the most recent three years
Financial Analysis for the most recent three years
2011 2012
Operating
ability		 Loans to deposits ratio (%) 84.12
84.90
NPL ratio (%) 0.30
0.37
Interest expenses to annual average deposit ratio (%) 0.78
0.88
Interest income to annual average loan ratio (%) 2.76
2.78
Total assets turnover (%) 0.02
0.02
Average operation revenue per employee (thousand) 2,888
3,354
Employee average profit rate (thousand) 727
1,323
Profitability Return on Tier I Capital (%) 9.01
12.95
ROA (%) 0.40
0.67
ROE (%) 6.48
10.38
Net profit rate (%) 25.16
39.46
Earnings per share (NTD) 0.76
1.20
Financial
structure		 Liabilities to total assets ratio (%) 93.37
93.68
Fixed assets to shareholders’ equity ratio (%) 13.11
11.93
Growth rate Asset Growth Rate (%) 12.93
15.73
Profit Growth Rate (%) 120.70
71.97
Cash flows Cash flow ratio (%) 57.56
-
Cash flow adequacy ratio (%) 756.53
648.27
Cash flow for operating to cash flow from investing ratio (%) (16.32)
-
Liquidity Reserve Ratio (%) 19.63
19.74
Related party secured loans (NTD thousand) 1,377,605
1,869,324
Related party secured loans to total loan ratio (%) 0.48
0.56
Operating
Scale		 Asset market share (%) 0.84
0.94
Market share of net worth (%) 0.98
1.00
Market share of deposits (%) 1.06
1.18
Market share of loans (%) 1.34
1.51

86

86

Financial Analysis - International Financial Reporting Standards (individual)

Year
Analytical items		 Year
Analytical items
Financial Analysis for the most 4 years
Financial Analysis for the most 4 years
Financial Analysis for the most 4 years
Financial Analysis for the most 4 years
2012 2013 2014 2015
Operating
ability		 Loans to deposits ratio (%) 84.82
85.17
85.08
78.27
NPL ratio (%) 0.37
0.58
0.34
0.33
Interest expenses to annual average
deposit ratio(%)		 0.87

0.88
0.88
0.84
Interest income to annual average loan
ratio(%)		 2.77

2.74
2.77
2.78
Total assets turnover (times) 0.02
0.02
0.02
0.02
Average operation revenue per employee
(thousand)		 3,384

4,355
4,814
4,239
Employee average profit rate (thousand) 1,381
1,508
1,802
1,583
Profitability Return on Tier I Capital (%) 13.15
12.60
13.30
11.38
ROA (%) 0.68
0.65
0.73
0.63
ROE (%) 10.55
10.38
11.22
9.19
Net profit rate (%) 40.82
34.64
37.44
37.34
Earnings per share (NTD) 0.99
1.09
1.25
1.14
Financial
structure		 Liabilities to total assets ratio (%) 93.66
93.64
93.06
92.84
Ratio of real estate and equipment to
equity (%)		 12.33

10.86
14.13
23.05
Growth rate Asset Growth Rate (%) 15.68
11.00
6.68
8.80
Profit Growth Rate (%) 74.27
4.99
18.72
(2.16)
Cash flows Cash flow ratio (%) 73.43
-
58.28
229.85
Cash flow adequacy ratio (%) 1,402.89
1,404.64
877.02
528.45
Cash flow for operating to cash flow
from investingratio(%)		 (69.34)

-
(575.47)
(152.55)
Liquidity Reserve Ratio (%) 19.74
20.76
20.30
25.25
Related party secured loans (NTD thousand) 1,869,324
1,596,200
1,662,958
1,711,302
Related party secured loans to total loan ratio (%) 0.56
0.42
0.41
0.42
Operating
Scale		 Asset market share (%) 0.94
0.96
0.95
0.99
Market share of net worth (%) 0.99
1.02
1.06
1.10
Market share of deposits (%) 1.18
1.25
1.25
1.31
Market share of loans (%) 1.51
1.64
1.66
1.63

Explanation for the reason of changes in financial ratios exceeding 20% in the past two years:

  1. The ratio of real property and equipment to total equity increased from 2014: mainly due to the increase of net real property and equipment in 2015 increased by NTD 4.158 billion from 2014.

  2. Asset growth rate increased from 2014: mainly due to the total assets in 2015 increased by NTD 46.319 billion from 2014, but the total assets in 2014 showed an increase of NTD 32.952 billion from 2013.

  3. Profitability growth rose from the level of FY1014: mainly because the earnings before taxation in FY2015 decreased by NTD 90 million from the same period of FY2014, while the earnings before taxation in FY2014 increased by NTD 656 million from the same period of FY2013.

  4. Cash flow ratio increased from 2014: mainly due to the increase of net cash flow from operation amounting to NTD 7.601 billion from NT17.291 billion in 2014 to NTD 9.690 billion in 2015.

  5. Cash flow adequacy ratio decreased from 2014: mainly due to the capital spending in 2015 and in the period of the last 5 years showed an increase of NTD 4.247 billion from 2014 and the period of the last 5 years.

  6. Cash flow adequacy ratio increased from 2014: this is because the net cash flow from investment in 2015 amounted to NTD (11.334 billion), which showed an increase of NTD 9.650 billion from NTD (1,684 million) in 2014, with the increase of net cash flow from operation amounting to NT7.601 billion.

  7. Liquidity reserve ratio increased from 2014: this is because the net amount of commercial paper under the actual liquidity reserve in 2015 increased by NTD 24.171 billion from the same period of 2014, and the basis for provision of liquidity reserve increased by NTD 35.442 from 2014.

87

87

Financial analysis - ROC Financial Accounting Standards (individual)

Year
Analytical items		 Year
Analytical items
Financial Analysis for the most recent three years
Financial Analysis for the most recent three years
2011 2012
Operating
ability		 Loans to deposits ratio (%) 84.08
84.82
NPL ratio (%) 0.30
0.37
Interest expenses to annual average deposit ratio (%) 0.78
0.87
Interest income to annual average loan ratio (%) 2.76
2.77
Total assets turnover (%) 0.01
0.02
Average operation revenue per employee (thousand) 2,893
3,376
Employee average profit rate (thousand) 736
1,368
Profitability Return on Tier I Capital (%) 8.95
13.03
ROA (%) 0.40
0.67
ROE (%) 6.48
10.38
Net profit rate (%) 25.45
40.53
Earnings per share (NTD) 0.76
1.20
Financial
structure		 Liabilities to total assets ratio (%) 93.37
93.67
Fixed assets to shareholders’ equity ratio (%) 13.10
11.84
Growth rate Asset Growth Rate (%) 12.89
15.62
Profit Growth Rate (%) 128.20
72.62
Cash flows Cash flow ratio (%) 58.59
-
Cash flow adequacy ratio (%) 744.94
704.58
Cash flow for operating to cash flow from investing ratio (%) (16.56)
-
Liquidity Reserve Ratio (%) 19.63
19.74
Related party secured loans (NTD thousand) 1,377,605
1,869,324
Related party secured loans to total loan ratio (%) 0.48
0.56
Operating
Scale		 Asset market share (%) 0.84
0.94
Market share of net worth (%) 0.98
1.00
Market share of deposits (%) 1.06
1.18
Market share of loans (%) 1.34
1.51

88

88

Note 1: The financial information for the most recent five years and the consolidated financial information have been audited. Note 2: Equations for financial analysis:

  1. Operating ability

  2. (1) Loans/deposits ratio = Total amount/total deposits

  3. (2) NPL rate = Total non-performing loans/Total amount

  4. (3) Interest expense to average annual deposit balance ratio = total interest expenses/average annual deposit balance

  5. (4) Interest income to average annual loan balance ratio = total interest incomes/average annual loan balance

  6. (5) Total assets turnover rate = Earnings/Average total assets

  7. (6) Employee average return (Note 6) = Earning/Total Employee No.

  8. (7) Employee average profit rate = Earnings/Total Employee No.

  9. Profitability

  10. (1) Return on Tier I Capital = EBT/Average total amount of Tier I capital.

  11. (2) ROA = Income after taxation/Average total assets.

  12. (3) ROE = Income after taxation/Average net shareholders equity.

  13. (4) Profit rate = Income after taxation/income-net

  14. (5) Earnings Per Share = (earnings – dividends from preferred shares)/weighed average quantity of outstanding shares. (Note 4)

  15. Financial structure

  16. (1) Liabilities to total assets =Total liabilities/total assets.

  17. (2) Fixed assets to net worth =net total assets/net shareholders’ equity.

  18. Growth rate

  19. (1) Asset growth rate = (Total assets of current year – total assets of previous year)/total assets of previous year.

  20. (2) Profit growth rate = (EBT of current year – EBT of previous year)/EBT of previous year.

  21. Cash flow (Note 7)

  22. (1) Cash flow ratio= net cash flow from operation /(Call loans and overdraft from banks + payable CP + financial liabilities which change in fair value is recognized as gain (loss) + R/P and bond liabilities + current portion of payables).

  23. (2) Net cash flow adequacy rate= net cash flow from operation in the last 5 years/ (capital spending + Cash Dividends) in the last 5 years.

  24. (3) Cash flow satisfied rate = Cash flow from operation/ cash flow from investments.

  25. Liquidity Reserve Ratio = Central Bank Required Current Assets/Allowance for liquidity of liabilities.

  26. Operating Scale

  27. (1) Asset market share rate = Total assets/Total assets of all financial institutions available for making deposits and loans) (Note 5)

  28. (2) Net worth market share rate = Net worth/total net worth of all financial institutions available for making deposits and loans

  29. (3) Deposit market share rate = Total deposits/Total deposits of all financial institutions available for making deposits and loans

(4) Loan market share rate = Total amount/Total amount of all financial institutions available for making deposits and loans Note 3: Total liabilities net of reserve, allowance for loss from bill trade, allowance for default, and allowance for contingency. Note 4: The following shall be considered in assessing the equation for EARNINGS PER SHARE as aforementioned:

  1. Weighted average quantity of shares is on the basis of common stock, not the outstanding shares as of the end of the year.

  2. The quantity of new shares for raising new capital or treasury stock trade shall be included in the weighted average quantity of shares during their effective term.

  3. Where the shares may be issued through the capitalization of retained earnings or capital surplus, make adjustment in proportion to the quantity of shares issued in calculating the semi-annual or annual EARNINGS PER SHARE of the year. The period for the release of such new shares may be omitted.

  4. If the preferred stock is non-convertible cumulative preferred stocks, dividend for the year (issued or not) shall be subtracted from earnings or added to earnings.

  5. If the preferred stock is non-cumulative preferred stocks, dividend on the preferred stock shall be subtracted from earnings after income tax, if any. If there are no earnings after income tax, no adjustment shall be made.

  6. Note 5: Financial institutions that can undertake deposits and withdrawals included domestic banks, branches of foreign banks in Taiwan, Credit Unions, Credit Departments of Farmers and Fishermen Associations, and investment trust firms.

  7. Note 6: Return rate refers to the total of incomes from interests and other sources.

  8. Note 7: Consider the followings in conducting cash flow analysis:

  9. Net cash flow from operation refers to net cash inflow from operation as stated in the Statement of Cash Flow.

  10. Capital spending refers to the cash outflow to annual capital investments.

  11. Cash Dividends includes the dividends in cash paid to holders of common shares and preferred shares.

  12. Gross fixed assets refer to total fixed assets before subtracting by accumulated depreciation.

89

89

Capital Adequacy

Unit: NTD thousand

Capital Adequacy
Unit: NTD thousand		 Capital Adequacy
Unit: NTD thousand		 Capital Adequacy
Unit: NTD thousand
Year
Analytical items
Consolidated capital adequacy ratio
2013 2014 2015
Self-owned Capital Common stock equity 30,473,315
35,259,138
39,168,173
Additional Tier 1 capital 0
0
1,418,736
Tier II Capital 11,507,948
9,847,617
8,910,027
Total Self-owned Capital 41,981,263
45,106,755
49,496,936
Risk-weighted assets Credit
Risk		 Standardised Approach 335,983,142
368,631,467
392,678,002
Internal Ratings-Based
Approach		 -
-
-
Asset Securitization -
-
-
Operational
Risk		 Basic Indicator
Approach		 11,659,675
13,340,988
15,742,475
Standardised
Approach/Alternative
standardised Approach		 -
-
-
Advanced Measurement
Approach		 -
-
-
Market
Risk		 Standardised Approach 4,724,850
5,442,150
6,018,175
Internal Models
Approach		 -
-
-
Total risk-weighted assets 387,414,605
414,438,652
Capital adequacy ratio 11.91%
11.64%
11.94%
Weighted Tier I capital to risk assets
ratio		 8.65%
9.10%
9.79%
Common stock equity to risk weighted
assets ratio		 8.65%
9.10%
9.45%
Leverage ratio -
-
6.66%
Explain the changes of capital adequacy ratio in the last 2 years. (Causal analysis is not necessary for the change
below 20%.)
Causal analysis is not necessary for the change below 20%.

Note:

  1. The aforementioned 3 fiscal years have been reviewed by certified public accountants with the issuance or review reports.

  2. The self-owned capital, risk assets, and total exposure in this table should be calculated according to the regulations in “Regulation on Bank Capital Adequacy and Capital Tiers” and “Clarification on Bank Equity Capital and Risk Capital Calculation Methods and Forms.”

  3. The capital adequacy calculation formula is as follows:

  4. (1) Self-owned capital = Common stock equity + Additional Tier I capital + Tier II Capital.

  5. (2) Total risk-weighted assets = Credit risk-weighted assets + Capital charge of (operational risk + market risk) x 12.5.

  6. (3) Capital Adequacy ratio = Total self-owned capital / Total risk-weighted assets.

  7. (4) Tier I capital to Risk Weighted Assets ratio= (Common stock equity + Additional Tier 1 capital / risk weighted assets.

  8. (5) Common stock equity to risk weighted assets ratio = Common stock equity / risk weighted assets.

  9. (6) Leverage ratio = Tier I capital / Total risk exposure.

  10. Disclosure of leverage ratio started from 2015.

90

90

Unit: NTD thousand Unit: NTD thousand Unit: NTD thousand Unit: NTD thousand Unit: NTD thousand Unit: NTD thousand
Year
Analytical items
Consolidated capital adequacy ratio
2011 2012
Self-owned Capital Tier I Capital Common stock 22,338,576
23,187,442
Perpetual non-cumulative preferred shares 0
0
Non-cumulative subordinated debt without maturity date 0
0
Capital collected in advance 0
0
Capital reserves (except the value appreciation of fixed assets) 675,537
675,537
Legal reserve 723,937
1,160,137
Special reserve 32,599
83,647
Accumulated profit or loss 1,455,841
2,785,992
Minority equity 0
0
Other shareholders’ equity (65,005)
(187,505)
Less: goodwill 0
0
Less: unamortized loss from sale of NPL 0
0
Less: capital deductions 797,919
715,888
Total Tier I capital 24,363,566
26,989,362
Tier II Capital Perpetual cumulative preferred shares 0
0
Cumulative subordinated debt without maturity date 0
0
Fixed asset revaluation increment surplus (including appreciations) 283,744
283,744
45% of unrealized gain on available-for-sale financial 4,492
32,409
Convertible Bonds 0
0
Operating reserve and provisions for bad debts 0
0
Long-term subordinated bond 5,500,000
6,840,000
Non-perpetual preferred stock 0
0
The sum of Perpetual non-cumulative preferred stocks and non-cumulative
subordinated debt without maturitydate exceeding15% of total Tier I Capital		 0
0
Less: capital deductions 496,989
495,997
Total Tier II capital 5,291,247
6,660,156
Tier III
Capital		 Short-term subordinated bond 0
0
Non-perpetual preferred stock 0
0
Total Tier III capital 0
0
Self-owned Capital 29,654,813
33,649,518
Risk-weighted assets Standardised Approach 244,284,117
298,765,919
Credit Risk Internal Ratings-Based Approach -
-
Asset Securitization -
-
Basic Indicator Approach 9,340,762
9,686,638
Operational
Risk		 Standardised Approach/Alternative standardised Approach -
-
Advanced Measurement Approach -
-
Market Risk Standardised Approach 782,175
1,481,200
Internal Models Approach -
-
Total risk-weighted assets 254,407,054
309,933,757
Capital adequacy ratio 11.66%
10.86%
Tier I capital to risk weighted assets ratio 9.58%
8.71%
Tier II capital to risk weighted assets ratio 2.08%
2.15%
Tier III capital to risk weighted assets ratio 0%
0%
Common stock to total assets ratio 5.81%
5.21%

Note 1: The aforementioned 2 fiscal years have been reviewed by certified public accountants with the issuance or review reports.

Note 2: The Shares and dividends and the amount of weighed average risk assets shall be filled in as required in “Regulation for Banks in the Management of Capital Adequacy”, and “Explanation and Forms for the Calculation of Shares and dividends and Risk Assets by Banks”.

  • Note 3: The capital adequacy calculation formula is as follows:

  • Self-owned Capital = Tier I Capital + Tier II Capital + Tier III Capital.

  • Total risk-weighted assets = Credit risk-weighted assets + Capital charge of (operational risk + market risk) x 12.5.

  • Capital Adequacy ratio = Total self-owned capital / Total risk-weighted assets.

  • Tier I capital to risk weighted assets ratio = Tier I Capital / Total risk-weighted asset.

  • Tier II capital to risk weighted assets ratio = Tier II Capital / Total risk-weighted asset.

  • Tier III capital to risk weighted assets ratio = Tier III Capital / Total risk-weighted asset.

  • Common stock to total assets = Common stock/ Total assets.

91

91

Individual Capital Adequacy

Unit: NTD thousand

Unit: NTD thousand Unit: NTD thousand Unit: NTD thousand
Year
Analytical items
Individual Capital Adequacy ratio
2013 2014 2015
Self-owned Capital Common stock equity 29,204,762
33,321,226
38,163,374
Additional Tier 1 capital 0
0
371,829
Tier II Capital 10,232,246
7,794,370
6,750,442
Total Self-owned Capital 39,437,008
41,115,596
45,285,645

Risk-weighted assets		 Credit
Risk		 Standardised Approach 331,126,416
361,365,256
385,991,245
Internal Ratings-Based
Approach		 -
-
-
Asset Securitization -
-
-
Operational
Risk		 Basic Indicator Approach 11,464,900
12,915,750
14,902,738
Standardised
Approach/Alternative
standardised Approach		 -
-
-
Advanced Measurement
Approach		 -
-
-
Market
Risk		 Standardised Approach 4,311,475
5,045,538
5,383,488
Internal Models Approach -
-
-
Total risk-weighted assets 379,326,544
406,277,471
Capital adequacy ratio 11.37%
10.84%
11.15%
Tier I capital to risk weighted assets ratio 8.42%
8.78%
9.49%
Common stock equity to risk weighted assets
ratio
8.42%
8.78%
9.39%
Leverage ratio -
-
6.37%
Explain the changes of capital adequacy ratio in the last 2 years. (Causal analysis is not necessary for the change
below 20%.)
Causal analysis is not necessary for the change below 20%.

Note:

  1. The aforementioned 3 fiscal years have been reviewed by certified public accountants with the issuance or review reports.

  2. The self-owned capital, risk assets, and total exposure in this table should be calculated according to the regulations in “Regulation on Bank Capital Adequacy and Capital Tiers” and “Clarification on Bank Equity Capital and Risk Capital Calculation Methods and Forms.”

  3. The capital adequacy calculation formula is as follows:

  4. (1) Self-owned capital = Common stock equity + Additional Tier I capital + Tier II Capital.

  5. (2) Total risk-weighted assets = Credit risk-weighted assets + Capital charge of (operational risk + market risk) x 12.5.

  6. (3) Capital Adequacy ratio = Total self-owned capital / Total amount risk-weighted assets.

  7. (4) Tier I capital to Risk Weighted Assets ratio = (Common stock equity + Additional Tier 1 capital/risk weighted assets.

  8. (5) Common stock equity to risk-weighted assets ratio = Common stock equity / Total risk weighted assets.

  9. (6) Leverage ratio = Tier I capital / Total risk exposure.

  10. Disclosure of leverage ratio started from 2015.

92

92

Unit: NTD thousand

Unit: NTD thousand Unit: NTD thousand
Year
Analytical items		 Capital adequacy ratio in 2011~2012
2011 2012
Self-owned Capital Tier I Capital Common stock 22,338,576
23,187,442
Perpetual non-cumulative preferred shares 0
0
Non-cumulative subordinated debt without maturity date 0
0
Capital collected in advance 0
0
Capital reserves (except the value appreciation of fixed assets) 675,537
675,537
Legal reserve 723,937
1,160,137
Special reserve 32,599
83,647
Accumulated profit or loss 1,455,841
2,785,992
Minority equity 0
0
Other shareholders’ equity (65,005)
(187,505)
Less: goodwill 0
0
Less: unamortized loss from sale of NPL 0
0
Less: capital deductions 842,498
1,300,377
Total Tier I capital 24,318,987
26,404,873
Tier II Capital Perpetual cumulative preferred shares 0
0
Cumulative subordinated debt without maturity date 0
0
Fixed asset revaluation increment surplus (including appreciations) 283,744
283,744
45% of unrealized gain on available-for-sale financial 4,492
32,409
Convertible Bonds 0
0
Operating reserve and provisions for bad debts 0
0
Long-term subordinated bond 5,500,000
6,840,000
Non-perpetual preferred stock 0
0
The sum of Perpetual non-cumulative preferred stocks and non-cumulative
subordinated debt without maturitydate exceeding15% of total Tier I Capital		 0
0
Less: capital deductions 541,568
1,080,486
Total Tier II capital 5,246,668
6,075,667
Tier III
Capital		 Short-term subordinated bond 0
0
Non-perpetual preferred stock 0
0
Total Tier III capital 0
0
Total Self-owned Capital 29,565,655
32,480,540
Risk-weighted assets Credit Risk Standardised Approach 244,298,087
297,177,443
Internal Ratings-Based Approach -
-
Asset Securitization -
-
Operational
Risk		 Basic Indicator Approach 9,243,025
9,572,388
Standaridised Approach/Alternative Standardised Approach -
-
Advanced Measurement Approach -
-
Market Risk Standardized Approach 782,175
1,481,200
Internal Models Approach -
-
Total risk-weighted assets 254,323,287
308,231,031
Capital adequacy ratio 11.63%
10.54%
Tier I capital to risk weighted assets ratio 9.56%
8.57%
Proportion of Tier II capital to risk weighted assets ratio 2.07%
1.97%
Proportion of Tier III capital to risk weighted assets ratio 0%
0%
Common stock to total assets ratio 5.81%
5.22%

Note 1: The aforementioned 2 fiscal years have been reviewed by certified public accountants with the issuance or review reports.

Note 2: The Shares and dividends and the amount of weighed average risk assets shall be filled in as required in “Regulation for Banks in the Management of Capital Adequacy”, and “Explanation and Forms for the Calculation of Shares and dividends and Risk Assets by Banks”.

Note 3: The capital adequacy calculation formula is as follows:

  1. Self-owned Capital = Tier I Capital + Tier II Capital + Tier III Capital.

  2. Total risk-weighted assets = Credit risk-weighted assets + Capital charge of (operational risk + market risk) x 12.5.

  3. Capital Adequacy ratio = Total self-owned capital / Total risk-weighted assets.

  4. Tier I capital to risk weighted assets ratio = Tier I Capital / Total risk-weighted asset.

  5. Tier II capital to risk weighted assets ratio = Tier II Capital / Total risk-weighted asset.

  6. Tier III capital to risk weighted assets ratio = Tier III Capital / Total risk-weighted asset.

  7. Common stock to total assets ratio = Common stock/ Total assets.

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93

IV. Audit Committee’ Review Report on the Financial Statement of 2015

Taichung Commercial Bank Co., Ltd. Audit Committee’ Review Report

The financial statements of individual entities of the Bank and the consolidated financial statement of the Bank covering FY2015 were audited by Deloitte Taiwan with the issuance of Auditors’ Report. The audited financial statements and the report on operation and proposal for distribution of earnings have been audited by the Auditing Committee of the Banking and confirmed that they are fairly presented. Pursuant to Article 14-4 of the Securities and Exchange Act and Article 219 of the Company Act, we hereby present the aforementioned statements and reports for ratification.

To:

2016 Shareholders’ meeting, Taichung Commercial Bank Co. Ltd.

Audit Committee

Independent director: Hsi-Rong Huang

Independent director: Chen-Le Liu

Independent director: Jin-Yi Lee

March 8, 2016

  • V. Consolidated financial statements 2015: See Appendix 1.

  • VI. Financial statements 2015: See Appendix2.

VII. In the case of any insolvency of the Bank and its affiliates: None.

94

94

Seven. Review and analysis of financial condition and results, and Risk management matters I. Financial Analysis

Unit: NTD thousand

I.
Financial Analysis		 Unit: NTD thousand Unit: NTD thousand
Year
Item
2015		 2014 Variation
Amount %
Cash and cash equivalent, Due from Central Bank and
lend to Banks		 96,325,425
91,867,062
4,458,363
5
Financial assets at fair value through profit and loss 31,693,725
13,011,606
18,682,119
144
Bonds and securities sold under repurchase agreements 6,994,022
1,545,361
5,448,661
353
Receivable, net 6,653,345
8,118,751
(1,465,406)
(18)
Current income tax asset 5,895
1,021
4,874
477
Notes discounted and loans – net 391,083,582
384,382,280
6,701,302
2
Available-for-Sale Financial Assets 23,770,062
20,711,997
3,058,065
15
Financial assets held to maturity 5,559,399
1,418,003
4,141,396
292
Stocks- equity method-net 136,612
140,282
(3,670)
(3)
Restricted assets – net 535,475
341,093
194,382
57
Other financial assets – net 1,090,841
1,206,142
(115,301)
(10)
Property, plant, and equipment – net 9,271,750
5,103,786
4,167,964
82
Intangible assets – net 183,995
143,759
40,236
28
Deferred tax assets – net 759,682
579,650
180,032
31
Other assets 1,566,905
1,479,607
87,298
6
Total assets 575,630,715
530,050,400
45,580,315
9
Due to Central Bank and other banks 3,864,104
10,697,387
(6,833,283)
(64)
Funds borrowed from Central Bank and other banks 3,132,454
3,499,960
(367,506)
(11)
Financial liabilities at fair value through profit and loss 179,557
133,360
46,197
35
Bills and bonds sold under repurchase agreements 273,312
273,573
(261)
0
Payables 5,181,226
7,363,659
(2,182,433)
(30)
Current Tax Liability 386,746
218,945
167,801
77
Customer deposits and remittances 504,863,979
455,966,124
48,897,855
11
Financial bonds payable 15,900,000
14,400,000
1,500,000
10
Other financial liabilities 279,014
340,296
(61,282)
(18)
Liability reserve 1,095,522
777,562
317,960
41
Deferred tax liabilities 111,021
111,021
0
0
Other liabilities 417,791
512,056
(94,265)
(18)
Total liabilities 535,684,726
494,293,943
41,390,783
8
Capital stock 31,840,027
28,515,063
3,324,964
12
Capital surplus 684,156
683,751
405
0
Retained earnings 7,073,521
6,402,783
670,738
10
Other equity 348,285
154,860
193,425
125
Total equity 39,945,989
35,756,457
4,189,532
12

No significant change in assets, liabilities, and total shareholders’ equity in the last 2 years (significant change refers to difference of more than 20% in two consecutive periods and the amount of change exceeds NTD 10 million).

95

95

II. Financial Performance Analysis

Unit: NTD thousand

Item 2015 2014 Variation Variation Ratio
%
Net interest income 7,474,764
7,161,977
312,787
4
Net income other than interest income 2,627,977
3,553,022
(925,045)		 (26)
Bad debt expense andguarantyreserve (744,283) (1,982,816) (1,238,533) (62)
Operatingexpenses (5,221,901) (4,508,965) 712,936
16
Income before tax from continuing
operations		 4,136,557
4,223,218
(86,661)
(2)
Income after taxation of continued
operations		 3,477,032
3,738,325
(261,293)
(7)
Net income 3,477,032
3,738,325
(261,293)		 (7)
Earningsper share 1.14
1.25
(0.11)		 9

Difference Analysis:

  • (I) The decrease of non-interest net income was mainly caused by the decrease in the reversal of asset impairment amounting to NTD 990 million under the recognition of reversal of impairment of bonds in foreign currencies amounting to NTD 983 million in the same period of the previous year.

  • (II) In 2015, bad debt expenses amounting to NTD 744 million has been recognized, which showed a decrease of NTD 1,239 million from the recognition of bad debt expenses of NTD 1,983 million in 2014. This was the result of the recovery of the retention amount of NTD 675 million under the Lai Cheng-ren case.

  • (III) The increase in operating expense was mainly caused by the increase of employee benefit amounting to NTD 359 million, the increase of VAT amounting to NTD 171 million.

III. Cash flow

(I) Analysis on liquidity in the most recent two years

(Consolidated)

(Consolidated)
Year
Item		 2015 2014 Increase/
Decrease Ratio
Cash flow ratio (%) 151.10 39.76 111.34
Cash flow adequacy ratio (%) 460.70 693.72 (233.02)
Cash flow for operating to cash
flow from investingratio(%)		 (157.17) (1,341.35) (1,184.18)

Analysis of variance in increase/decrease:

  1. Cash flow ratio increased from 2014: mainly due to the increase of net cash flow from operation amounting to NTD 9.379 billion from NTD 8.371 billion in 2014 to NTD 17.750 billion in 2015.

  2. Cash flow adequacy ratio fell from the level of FY2014: mainly because the capital expenditures in FY2015 and the previous 5 years increased by NTD 4.277 billion from the same period FY2014 and the previous 5 years.

  3. Cash flow adequacy ratio increased from 2014: this is because the net cash flow from investment in 2015 amounted to NTD (11.294 billion), which showed an increase of NTD 10.67 billion from NTD (624 million) in 2014, with the increase of net cash flow from operation amounting to NTD 9.379 billion.

(Individual)

(Individual)
Year
Item		 2015 2014 Increase/
Decrease Ratio
Cash flow ratio (%) 229.85 58.28 171.57
Cash flow adequacy ratio (%) 528.45 877.02 (348.57)
Cash flow for operating to cash
flow from investingratio(%)		 (152.55) (575.47) (422.92)

Analysis of variance in increase/decrease:

  1. Cash flow ratio increased from 2014: mainly due to the increase of net cash flow from operation amounting to NTD 7.601 billion from NTD 17.291 billion in 2014 to NTD 9.690 billion in 2015.

  2. Cash flow adequacy ratio decreased from 2014: mainly due to the capital spending in 2015 and in the period of the last 5 years showed an increase of NTD 4.247 billion from 2014 and the period of the last 5 years.

  3. Cash flow adequacy ratio increased from 2014: this is because the net cash flow from investment in 2015 amounted to NTD (11.334 billion), which showed an increase of NTD 9.650 billion from NTD (1,684 million) in 2014, with the increase of net cash flow from operation amounting to NTD 7.601 billion.

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  • (II) Cash flow analysis for the next year

(Consolidated)

Unit: NTD thousand

Unit: NTD thousand Unit: NTD thousand
Beginning of year
cash balance
 Expected net
operating cash
flow for the whole
year
 Expected net cash
flow of investing
and financing
activities for the
whole year		 Cash surplus
(deficit)
＋+		 Remediation measures against
expected cash flow deficit
Investment Wealth
management
10,199,598
9,110,066
(3,486,647)
15,823,017
-
-

Analysis of variance in cash flows:

  1. Operating activities: Expecting that the Bank will work hard to develop its business and upgrade the fund utilization effect in 2016. It is expected that earnings will be generated in the year to contribute to the net cash inflow from operating activities.

  2. Investing activities: The investment under the available-for-sale financial assets, and held-to-maturity financial assets is expected to be increased, resulting in a net cash outflow from investing activities.

  3. Financing: mainly because of the maturity of the outstanding subordinated bonds for redemption in 2016 with new cash outflow from financing. Net cash outflow from investment and financing all through the year.

(Individual)

Unit: NTD thousand

Unit: NTD thousand Unit: NTD thousand
Beginning of year
cash balance		 Expected net
operating cash
flow for the whole
year		 Expected net cash
flow of investing
and financing
activities for the
whole year		 Cash surplus
(deficit)++		 Remediation measures against
expected cash flow deficit
Investment Wealth
management
9,285,254
10,113411
(4,673,401)
14,725,264
-
-

Analysis of variance in cash flows:

  1. Operating activities: Expecting that the Bank will work hard to develop its business and upgrade the fund utilization effect in 2016. It is expected that earnings will be generated in the year to contribute to the net cash inflow from operating activities.

  2. Investing activities: The investment under the available-for-sale financial assets, and held-to-maturity financial assets is expected to be increased, resulting in a net cash outflow from investing activities.

  3. Financing: mainly because of the maturity of the outstanding subordinated bonds for redemption in 2016 with new cash outflow from financing. Net cash outflow from investment and financing all through the year.

(III) Corrective action against insufficient liquidity: N/A.

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  • IV. The material effect on financial structure from substantial capital expenditure in the last few years

  • (I) Major capital expenditure and funding sources

Unit: NTD thousand

Unit: NTD thousand Unit: NTD thousand Unit: NTD thousand
Plans Actual and
expected
fundingsource		 Actual and
expected
completion date		 Actual and expected capital utilization
2014 2015 2016 2017
Purchase of land and outsourcing
of design for the new corporate
headquarter building		 Self-owned
Capital		 2015.2 Total
1,738,162		 Total
4,098,262		 Total
278,830		 Total
47,555
Min-Chuan Server Room
constructionproject		 Self-owned
Capital		 2015.2
The update and expansion of the
virtual server		 Self-owned
Capital		 2015.4
Additional storage devices Self-owned
Capital		 2015.6
Message encryption and
decryption device and core
firewall		 Self-owned
Capital		 2015.6
Update of the network security
protection system		 Self-owned
Capital		 2015.12
Microsoft Enterprise Licensing
preferentialproject		 Self-owned
Capital		 2016.3
The SFA system Self-owned
Capital		 2016.12
The acquirer banking EMV chips
and equipment update in credit
card operation		 Self-owned
Capital		 2016.12
The update and expansion of
cloud environment		 Self-owned
Capital		 2016.8
Reinforcement of remote backup
from alternate site		 Self-owned
Capital		 2016.10
New teller terminal system Self-owned
Capital		 2016.10

  • (II) Projected potential benefits

  • The purchase of land and outsourcing of design for the new corporate headquarters building: purchase land for the construction of the new corporate headquarters building as a symbolic, professional, benchmarking move for the vision of sustainability. This will be essential for the group enterprise to create a new corporate brand for another century. A professional technical service firm has been commissioned for the design of the new corporate headquarters building.

  • Min-Chuan Server Room construction project: expand the existing Min-Chuan Server Room for backup has become saturated. In response to future expansion needs, information security protection, information security certification, and green energy of the server room should be substantiated through the planning and construction project in order to minimize the energy consumption (air-conditioning and UPS) of the server room. Significantly reduce the operation and maintenance expense of the server room in conformity with ISO-27001 Information Security Certification requirements, and provide environmental monitoring and systematic maintenance and operation management.

  • The update and expansion of the virtual server: the introduction of different new systems for responding to the needs of the launch of different projects by the Bank, such as customer service system update, the mobile payment system, the module for interfacing with the cyber shopping malls, network operation and change management system, that dictate for the expansion of the virtual equipment resources. In consideration of the high performance and backup, testing and development needs in the formal environment that the expansion of fundamental resources will be

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necessary.

  1. Additional storage devices: Currently there are two sets of storage devices to provide important storage service; however, there are many new systems (such as, network banking, customer service, collections, gold passbook, and other new systems), virtual environment expansion, information security enhancement requirements (Personal Information Protection Act), and internal i-cloud needs to be fulfilled but the existing storage space and speed is insufficient to meet demand; also, the outdated fiber optic switch is replaced. The said project expansion, in addition to provide adequate physical resources, will help strengthen the management, expansion, and reliability of i-cloud.

  2. The message encryption equipment and the firewall at the center: the said renovation project will help enhance the stable operation and service of the servers at the Center and the centralized management is in conformity with ISO-27001 Derivative.

  3. Upgrade of Internet security and protection system: According to certain statistical figures, security control equipment for web page content can effectively block improper web page traffic, and e-mail content security equipment can effectively screen out malicious software and junk mails. The Bank has successfully launched broadband management and the prevention of malicious software with sound result. From the launch of web page and e-mail security control equipment, the equipment has been subject to adjustment in its default value from the feedback of the users of the Bank, and has maintained a proper balance between the compatibility of programs, service efficiency optimization, and the prevention of online attack. As such, the Bank planned to upgrade the equipment specification and renew the warranty contract for another 3 years. Through the detection and behavioral analysis of the network packing, the intrusion prevention system helps to block the latest malicious software, real-time attack, BotNet, and DoS attack effectively.

  4. Microsoft Enterprise Licensing preferential project: The FSC has made the protection of information a top priority due to the implementation of the Personal Information Protection Act to strengthen information security and computer management as an important project to the Bank (including e-mail server upgrade, information security and file protection, Microsoft AD directory service management enhancement, etc.). The Bank’s computers are mostly Microsoft products; therefore, Microsoft products are the main solution to have information security enhanced and personal data protected. Therefore, it is necessary to purchase the right to use for each personal computer. The EA purchase will help reduce the cost of software upgrade (the Bank had purchased the products without buying the upgrade service; therefore, a new purchase is necessary for any product upgrade) and lower the overall cost.

  5. The SFA: integration of the mobile equipment and the application management of the information system of the Bank with the integration of wealth management platform by role and authority with suitable function available for the upgrading of active, instantaneous, and interactive marketing of products by the banking staff. This system helps the banking staff to develop potential business opportunities and actively present the products to the customers. Through the dialogue, the system provides timely support and assistance to upgrade the competitive power of the Bank, reinforce the performance of the banking staff in business promotion, and reduce the cost of development effectively.

  6. Update the acquirer banking service EMV chip and equipment for credit card operation: in supporting the VMJ international and EMV chip of UnionPay acquirer service, the Bank updates its ATM software to avoid the liability of transactions with forged cards.

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99 

  10. The update and expansion of cloud environment:

     - (1) Addition of the mainframe server that supports the virtualization functions for replacement or upgrade the obsolete servers.

     - (2) Expand related software and hardware in supporting different business systems.

  11. Reinforcement of remote backup from alternate site: reinforce the capacity of Banqiao depot in alternate backup.

  12. New teller terminal system: introduce the new generation teller terminal.

  • V. Direct investment policy, the main reasons for profit or loss, and corrective action plan in the most recent year, and investment plan in the next year.

  • (I) Direct investment policy in the most recent year:

    • The Bank engaged in the internal to meet the business development demand for the purpose of establishing the complete financial product transaction platform and ensuring the Bank’s sustainable operation and business growth. The external direct investment made by the Bank complied with the Government’s financial and economic policies, and assessed the ideal investment objects to upgrade the service quality in the entire financial market.

  • (II) Root cause of investment gains or loss in the most recent year:

The Bank is used to adhering to the stable management philosophy. The performance of businesses invested by the Bank appears to be fair in risk control, business development and cooperative promotion of business. The entire performance appears to continue earning profit for the time being.

  • (III) Corrective action plan:

In addition to continuing enhancing the risk control and cooperative promotion of business in the invested companies, the Bank will carefully review the performance and business expansion.

  • (IV) Investment plan in the year ahead:

The Bank has no new investment plan in FY2016

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VI. Risk Management

  • (I) Qualitative and quantitative information about the various risks

1. Credit risk management system and capital requirement:

Credit risk management system

2015

Credit risk management system
2015
Item Contents
1. Credit risk
strategies,
objectives, policies
and processes		 1. Credit risk strategies and objectives:
(1) Comply with The New Basel Capital Accord and upgrade the Bank’s risk management
ability.
(2) Develop well-founded risk management mechanisms and execute them strictly.
(3) Strengthen the loan asset portfolio quality, risk management information integration,
analysis, control and precautionary effect, and play the role of risk management.
2. Credit risk policies:
(1) Establish the business strategies and organizational culture valuing credit risk management
and provide the qualitative and quantitative management method as the reference for
enactment of business strategies.
(2) Establish the entire credit risk management system to be executed by the Bank’s Board, the
management and employees jointly, and control the various business risks to the tolerable
extent through identification, assessment, control and report of risks in the qualitative and
quantitative management manner, so as to achieve the Bank’s credit risk objectives.
(3) Establish the effective method and control procedure to control the adequacy of the
deposits/withdrawals to ensure the shareholders’ equity as the first priority.
3. Credit risk management process:
Risk identification, risk assessment, risk control and risk report include:
(1) Define the credit risk management related regulations.
(2) Establish credit risk SMEs Application Scorecard rating model.
(3) Establish the control mechanism and define the limit for the various large-sum exposures.
(4) Upgrade the entire asset quality and establish the proper management mechanism.
(5) Continue developing and executing the stress tests for credit risks.
(6) Review and reportperiodically.
2. Credit risk
management
organization and
structure		 1. Board of Directors:
The supreme decision-making entity in credit risk management of the bank, and takes the
ultimate responsibility for the Bank's credit risk management.
2. Risk Management Committee:
Risk Management Committee takes charge of the Bank’s credit risk management mechanism,
review of the credit risk regulations and the multi-departmental communication and
coordination of credit risk management, and continuous supervision of the performance,
according to the risk management policy authorized by the Board.
3. Loan Supervision Committee and Credit Review Committee of the business department:
Review the credit extension applications in accordance with the credit extension policies, credit
extension authorization rules and the relevant requirements.
4. Delinquent Accounts Review Committee:
The Committee processes the delinquent accounts, receivables on demand and bad debt in
accordance with the Rules for Establishment of Delinquent Accounts Review Committee,
Rules for Allowance for Loss of Asset Evaluation and Collection of Delinquent Account,
Receivable on Demand and Bad Debt, and the relevant requirements.
5. Risk Management Dept.:
(1) Credit Risk Management Department is the Bank’s unit dedicated to the risk management,
responsible for planning, establishing and integrating the Bank’s credit risk management
operation and executing the Bank’s entire credit risk management control.
(2) Be responsible for the study, design, or recommendation for revising the credit risk
management policy and related regulations of the Bank, and report to relevant level of
management or the Board for final approval.
(3) Summarize the Bank’s credit risk information periodically and report it to the Risk
Management Committee and Board.
(4) Establish the Bank’s entire framework of assess, control and qualitative and quantitative
management method.

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Item Contents
6. Business supervisory departments of head office:
Fully understand the credit risk of the underlying business according to the Bank’s risk
management policies and norms in order to substantiate the risk management tasks and help
the Risk Management Department complete risk monitoring of the Bank taking as a whole.
7. Regional centers and business units:
(1) Comply with the Bank’s rules for credit investigation, credit extension and credit risk
management, fulfill the routine jobs and risk management, and report the risk to the various
business supervisory departments.
(2) Routine work integrated with the risk control, and identify the accuracy and integrity of the
operation information.
8. Auditing Office of the Board:
Auditing Office of the Board will periodically audit the execution of the Bank’s credit risk
management system impartially and independently, and provide the suggestions about
corrective actions.
3. Scope and
characteristics of
credit risk report and
measurement system		 1. Scope and characteristics of credit risk report:
(1) The Board’s report (Comprehensive risk report).
(2) Risk Management Committee report (Comprehensive risk report).
(3) Asset quality report.
(4) Report for the individual limit in the various countries.
(5) Stress test report.
2. Credit risk assessment system includes:
(1) Capital requirement calculation platform information system.
(2) Credit investigation and extension system.
(3) Debt collection management system.
(4) Credit review and precaution management system.
(5) SMEs Application Scorecard System.
(6) CountryRisk Management System
4. Credit risk hedging
or mitigation
policies, and
effective strategies
and process for
controlling risk
hedging and
mitigation tools		 1. Establish the risk control mechanism to control the credit risk of individual credit extension
and credit extension portfolio; the control mechanism includes the limit management,
post-loaning management, collateral management and asset quality management.
2. Continue to enhance the credit account guarantee by demanding collaterals, guarantors, or
transfer of SME credit guarantee fund in order to execute credit risk hedging or offset.
3. Cope with the domestic and foreign economic conditions and industrial development, control
industrial risk and adjust the limit on the credit extension rate of the industry to disperse risk.
5. Approach for
regulatory Capital
Charge		 Standardised Approach

Exposure and capital requirement under the credit risk standardised approach after risk mitigation

December 31, 2015

Unit: NTD thousand

December 31, 2015 Unit: NTD thousand
Type of exposure Exposure after risk mitigation Capital requirement
Sovereigns 1,558,909
0
Non-central government public
sector entities(PSEs)		 0
0
Banks (including multilateral
development banks-MDBs)		 17,873,253
769,486
Corporates (including securities
and insurance companies)		 195,953,777
14,873,246
Retail 180,876,303
12,048,566
Residential mortgage 46,117,002
2,123,971
Equitysecurities investments 29,000
9,280
Other assets 139,113,805
1,051,981
Total 581,522,049
30,876,530
  1. Risk management system, exposure amount, and capital requirement of securitization: The Bank does not handle securitization business.

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3. Operational risk management system and capital requirement:

Operational risk management system

2015

Operational risk management system
2015
Item Contents
1. Operational risk
management
strategies and
processes		 1. Operational risk management strategies: By establishing and executing the sound operational
risk management mechanism, the Bank manages the operational risk actively, generally
evaluates the frequency and effect of the various potential risks in routines and management
and takes the appropriate counter-assessments to avoid, transfer or write off, control and bear
the risk to reduce the substantial loss and frequencies.
2. Operational risk management process:
(1) Risk identification
The risk identification approaches include Loss Data Collection (LDC), Key Risk Indicators
(KRIs), Risk and Control Self Assessment (RCSA), audit report and external loss event.
(2) Risk assessment and measurement
Assess such factors as possibility and effect of the risks as identified. The loss events
collected are classified in accordance with the 7 major categories of loss and 8 major
categories of businesses defined by the competent authorities. Define the risk assessment
matrix of different risk areas and risk values in accordance with the impact or severity of
risk and the possibility of risk; classify risk as extremely high risk, high risk, moderate risk,
and low risk for quantitative analysis.
(3) Risk control
Control the operational risk events, KRIs and risk control exposure, quality of risk write-off
and control actions, and the effect of other cases.
(4) Risk report
Report the information about operational risk exposure to Risk Management Committee and
the Boardperiodically.
2. Operational risk
management
organization and
structure		 The operational risk management organization includes the Board, Risk Management Committee,
Risk Management Dept., the business management units, units of the Bank, all staff and Auditing
Office of the Board. The authorities and responsibilities of the organizations are specified below:
1. Board of Directors
The Bank’s highest decision-making unit of operational risk management is responsible for the
review and approval of operational risk management significant events.
2. Risk Management Committee
Administer operational risk management mechanism, as well as review the operational risk of
the Banks’ products, activities, procedures, and system and the operational risk management of
the business units within the head office, and continue to monitor the execution and
performance.
3. Risk Management Dept.
Responsible for researching and drafting the Bank’s operational risk management policies and
procedures, establishing and centrally managing the Bank’s operational risk loss database,
collecting, summarizing and analyzing the information about loss, and reporting it to Risk
Management Committee and the Board periodically.
4. Business management units of Head Office
Understand the risks confronting the business administered by the Bank to its entirety.
Institution of regulations for the management of different business operations including risk
management. Proper supervision of the execution of the regulations and assistance to the Risk
Management Department to monitor and control various risks.
5. Units of the Bank
Comply with and implement the operational risk management rules, and report the risk events
pursuant to the requirements.
6. Whole staff
The whole staff shall be responsible for dealing with the operational risk jointly, and shall
implement the operational risk management tasks within their functions.
7. Auditing Office of the Board
Auditing Office of the Board shall conduct the audit independently, assess and audit the
effectiveness of the Bank’s operational risk management structure and processes, and provide
the suggestions for corrective action in a timelymanner.

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Item Contents
3. Scope and
characteristics of
operational risk
report and
measurement system		 When measuring the Operational risk, each unit of the Bank shall analyze the cause, consequence,
frequency and effect thereof and conclude the degree of individual risk to verify the exposure of
the Bank’s Operational risk. The Bank also made record of various exposures. By introducing the
Operational risk identification, assessment and measurement, control and report management
mechanism, the Bank establishes and centrally manages the database for the Bank’s Operational
risk losses and summarizes the Operational risk information and implementation status, and
submit the report and suggestions to Risk Management Committee and reporting them to the
Board for approval.
4. Operational risk
hedging or
mitigation policies,
and effective
strategies and
process for
controlling risk
hedging and
mitigation tools		 For intensifying the monitoring and control of operational risk, the Bank established Key Risk
Indicators and Risk Control Self Assessments according to the four dimensions of operational risk,
i.e. internal procedure, people, systems, and external events. In addition, the Bank will observe the
changes in the said indicators, and can transfer or write off the loss and impact of incidents caused
by operational risk through insurance and outsourcing in part or in whole for the effective
reduction of loss deriving from operational risk.
5. Approach for
regulatory Capital
Charge		 Basic Indicator Approach

Capital requirement for operational risk

December 31, 2015

Capital requirement for operational risk
December 31, 2015		 Capital requirement for operational risk
December 31, 2015		 Capital requirement for operational risk
December 31, 2015
Unit: NTD thousand
Year Gross profit Capital requirement
2013 8,009,146

2014 8,940,414
2015 9,237,065
Total 26,186,625
1,309,331

4. Market risk management system and capital requirement:

Market risk management system

2015

Market risk management system
2015
Item Contents
1. Market risk
management
strategies and
processes		 1. The Bank’s market risk management strategy is to develop the sound and effective market risk
management mechanism. The mechanism shall correspond to the Bank’s business scale, nature
and complexity to ensure the proper management of the market risk to be borne by the Bank
and seek the balance between the tolerable risk level and expect return level.
2. The Bank’s market risk management process covers the risk identification, evaluation,
assessment, control and report. The contents thereof cover the market risk related to the Bank’s
major traded products, trading activities, process and system.
(1) Risk identification:
The Bank’s relevant units identified the source of market risk by means of business analysis
or product analysis to define the market risk factors of the various financial products (the
market risk factors were categorized as interest rate risk, foreign, equity securities price risk
and commodity price risk) and the relevant requirements.
(2) Risk evaluation and assessment:
Establish an effective valuation mechanism to evaluate the income of position precisely, and
conduct the independent market price evaluation procedure with respect to the short-term
investment position for which the reference market price is available. Establish the
quantitative model step by step to assess the market risk in such manners as sensitivity
analysis, VaR calculation, scenario drill and stress testing, and integrated with the routine
risk management.
(3) Risk control:
Define the relevant rulesgoverningexcess of limit,stop-loss mechanism and operating

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Item Contents
procedure for excess of limit in order to control the market risk effectively.
(4) Risk report:
Report to the Risk Management Committee and the Board on the status of overall market
risk management of the Bank at regular intervals. In case of significant change in the
market, related functional units shall report immediately to reduce market risk. Disclose the
Bank’s market risk information to the public periodically pursuant to the competent
authority’s requirements.
2. Market risk
management
organization and
structure		 The Bank’s market risk management organization and structure includes the Board, Risk
Management Committee, Risk Management Dept., business supervisory units, business trading
units and Auditing Office of the Board. The authorities and responsibilities of the organizations
are specified below:
1. Board of Directors:
The Board is the supreme decision-making unit in market risk management of the bank, and
takes the ultimate responsibility for the Bank's market risk management.
2. Risk Management Committee:
Control the risk management mechanism according to the market risk management policies
approved by the Board.
3. Risk Management Dept.:
Risk Management Dept. is the unit dedicated to the Bank’s market risk management,
responsible for consolidating and executing the Bank’s entire market risk management.
4. Business supervisory departments of head office:
Business supervisory departments of head office are responsible for managing and supervising
the necessary risk management tasks to be executed by business trading units and working with
Risk Management Department to complete the control of the Bank’s risks. Meanwhile, they are
also responsible for defining the proper limit control, stop-loss mechanism and operating
procedure for excess of limit with respect to the products and process of transaction.
5. Business trading units:
Business trading units are responsible for executing the risk identification, assessment and
measurement, and taking appropriate countermeasures in accordance with the Bank’s market
risk management rules. Take positive action in monitoring the enforcement of different limits,
and report to the supervisors or notify Risk Management Department as required.
6. Auditing Office of the Board:
Auditing Office of the Board executes the market risk management auditing business
independentlyandprovides the suggestions for corrective action.
3. Scope and
characteristics of
market risk report
and measurement
system		 Each business trading unit shall submit trading information related to the market risk to the
business supervisory unit and Risk Management Dept. Risk Management Dept., shall consolidate
and summarize the information and present the report to Risk Management Committee and the
Board. The contents of said report cover all market risk positions and ensure that the various
transactions are conducted under authorization and the specific limitation.
4. Market risk hedging
or mitigation
policies, and
effective strategies
and processes for
controlling risk
hedging and
mitigation tools		 The Bank’s transactions subject to market risk have defined the limits of the various investment
objects in the relevant rules. The specific limit is also set against the trading counterpart based on
its credit rating and financial status to prevent the operation of fund from being highly
concentrated. Each business trading unit shall adjust the operational position according to the
change in the relevant market environments under the authority granted to it, and adopt any
available derivative product to hedge risk in a timely manner and execute the relevant stop-loss
mechanism whenever necessary. Said relevant requirements shall be reviewed and revised subject
to the operationplan,business development and changes in the entire financial environment.
5. Approach for
regulatory Capital
Charge		 Standardised Approach

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105

Capital requirements for market risk December 31, 2015

Unit: NTD thousand

Unit: NTD thousand
Type of risk Capital requirement
Interest rate risk 121,363
Equity securities risk 273,392
Foreign Exchange risk 35,924
Commodity risk 0
Total 430,679

  1. Liquidity risk includes the analysis of maturity of assets and liabilities, and the management method for asset liquidity and capital gap liquidity.

  2. Liquidity risk refers to the risk arising from the maturity date or scale on the maturity date of assets and liabilities not compatible that causes the obtained fund insufficient to pay for the assets acquired or liabilities due for payment. The liquidity risk management model adopted by the Bank is divided into the daily risk management and strategic assessment; also, it is processed in accordance with the Bank’s “Asset-liability management policy,” “Liquidity Risk Management Policy,” and “Liquidity Risk Management Enforcement Rules.” For daily risk management, the Finance Department collects the operating conditions and related management reports daily for the review of the risk management personnel. The relevant measurement indictors include Loans to deposits ratio, Liquidity Reserve Ratio, excess liquidity reserve ratio, and matured capital gap ratio. For the strategic assessment, the “analysis of maturity structure of NTD and foreign currency” is prepared monthly to conduct liquidity scenario analysis. In addition, the Bank conducts the stress test on liquidity risk quarterly with the assumptions that the overall market environment is in crisis and the operation of particular bank is also in crisis that the Bank monitor the situations by the number of days covered by realizable value of assets, and report to the Assets and Liabilities Management Committee, the Risk Management Committee, and the Board.

Analysis of maturity structure of NTD December 31, 2015

Unit: NTD thousand

Analysis of maturity structure of NTD
December 31, 2015
Unit: NTD thousand		 Analysis of maturity structure of NTD
December 31, 2015
Unit: NTD thousand		 Analysis of maturity structure of NTD
December 31, 2015
Unit: NTD thousand		 Analysis of maturity structure of NTD
December 31, 2015
Unit: NTD thousand		 Analysis of maturity structure of NTD
December 31, 2015
Unit: NTD thousand		 Analysis of maturity structure of NTD
December 31, 2015
Unit: NTD thousand
Total Remaining balance to maturity
0 to 10 days 11 to 30 days 31 to 90 days 91 to 180 days 181 days to 1
year		 More than 1
year
Main capital
inflow upon
maturity		 535,276,705 64,149,749 58,458,001 27,802,015 44,734,581 78,436,917 261,695,442
Main capital
outflow upon
maturity
629,660,162		 21,831,728 40,080,010 89,879,167 108,256,327 139,228,615 230,384,315
Gap (94,383,457) 42,318,021 18,377,991 (62,077,152) (63,521,746) (60,791,698) 31,311,127

106

106

Analysis of maturity structure of USD

December 31, 2015

Unit: US thousand

Analysis of maturity structure of USD
December 31, 2015
Unit: US thousand		 Analysis of maturity structure of USD
December 31, 2015
Unit: US thousand		 Analysis of maturity structure of USD
December 31, 2015
Unit: US thousand		 Analysis of maturity structure of USD
December 31, 2015
Unit: US thousand		 Analysis of maturity structure of USD
December 31, 2015
Unit: US thousand
Total Remaining balance to maturity
0 to 30 days 31 to 90 days 91 to 180 days 181 days to 1
year		 More than 1 year
Main capital
inflow upon
maturity		 1,357,476 324,486 233,739 210,528 141,670 447,053
Main capital
outflow upon
maturity		 1,902,456 362,388 465,788 322,449 637,840 113,991
Gap (544,980) (37,902) (232,049) (111,921) (496,170) 333,062

  • (II) The influence of domestic and foreign major policies and law amendment exerting on the bank’s financial structure and responding measures:

  • According to Article 47-1 of the “Banking Act” amended on February 4, 2015, the interest rate for cash card and the interest rate for revolving credit of credit cards shall not exceed 15% per annum for all banks and credit card issuers with effect on September 1 ,2015. The Bank revised the revolving credit interest rate of no more than 14.98% per annum on April 9, 2015. The Bank acted in compliance with the new law thereby revised its interest rate for revolving credit of credit cards on April 9, 2015.

  • The amendment to Article 34-1 of the “Banking Act” on June 24, 2015 explicitly stated that banks shall set reasonable price for financing. The Bank has established the “Policies and Procedures for Pricing in Financing” and “Particulars for Pricing in Financing” to implement reasonable pricing policy for financing. In consideration of market interest rate, the cost of capital for the Bank, the cost of operation, anticipated risk and resulting loss, and overall contribution of the customers, the Bank will not solicit or undertake loans with unreasonable offering.

  • (III) The effect of technological and industrial changes on the Financial Status and operation of the Bank and countermeasures: None.

  • (IV) The influence of the change in the image of the Bank on crisis management and the responses: None.

  • (V) Expected result and possible risks of mergers and acquisitions and Counter assessments: None.

  • (VI) Expected result for establishing more business locations, possible risk and countermeasures: None.

  • (VII) The risk confronting the over concentration of business, and countermeasures: None.

  • (VIII) The effect of change in the management produced to the Bank, possible risk and countermeasures: None.

  • (IX) The massive transfer of equity shares by directors, or dominant shareholders holding more than 1% of the outstanding shares of the Bank, the risk and countermeasure: None.

(X) Contentious matters and non-contentious matters: The Kuang San Group’s illegal and excessive borrowing and the improper investment and default in the delivery of stocks issued by Shun Ta Yu were uncovered in November 1998. The aforementioned case has been prosecuted by the Public Prosecutors Office of Taichung District Court, and was returned for retrial after several appeals. The Supreme Court has overruled the appeal in the 3[rd] instance and the judgment has become final. The income of Tseng x-ren from money laundering amounted to NTD 2,491,623 thousand,

107

107

which shall be returned to respective securities dealers as remedy of losses from delivery in default in relevant proportions. The Bank has claimed for damage against Tseng x-ren for delivery in default amounting to NTD 1,776,578 thousand, and has been determined by the judgment of Taichung District Court in favor of the Bank. The Public Prosecutors Office of Taichung District Court has distributed the amount of NTD 2,291,223 thousand from the seizure in relevant proportion on December 9, 2015. The Bank got NTD 685,588 thousand.

(XI) Other major risks and counter-assessments: None.

  • VII. Crisis management mechanism

For the rapid settlement of unusual withdrawal and deposits, massive draining of capital, severe damage to the good will of the Bank and other crisis in operation, or the handicap of solvency and ability to repay debts, due to unanticipated factors, has established the “Emergency Response Handbook” as guideline. For fortifying the security measures and functions of all banking units and for the upgrading of security protection, the Bank has established the “Regulation for Security Management”. In addition, the “Emergency Response Team” and the “Security Supervision Team” have also been set up to deal with emergency and take appropriate actions. For the preservation of the information system in an emergency, has established the “Guidelines for Business Continuity Management” so that the personnel of the Bank can maintain normal operation of the information system in case of emergency.

VIII. Other important notes: None.

108

108

Eight. Special Notes

  • I. Information regarding the bank’s subsidiaries

  • (I) Consolidated Report on business operations:

    1. Chart showing the bank’s subsidiaries

==> picture [439 x 254] intentionally omitted <==

----- Start of picture text -----

Taichung Commercial Bank
Co., Ltd.
100% 100% 100%
Taichung Commercial Bank Taichung Bank Insurance Taichung Bank Leasing
Securities Co., Ltd. Brokers Co., Ltd. Co., Ltd.
100%
TCCBL Co., Ltd.
100%
Taichung Commercial
Bank Leasing (Suzhou) Ltd.
----- End of picture text -----

2. Profiles of the bank’s subsidiaries

Unit: NTD thousand

Name of enterprise Date of
establishment
Address		 Paid-in shares
Captial
Major operations
Controlling company:
Taichung Commercial Bank
Co., Ltd.
Subsidiary companies:
Taichung Bank Insurance
Brokers Co., Ltd.
Taichung Bank Leasing Co., Ltd.
TCCBL Co., LTD.
Taichung Commercial Bank
Leasing (Suzhou) Ltd.
Taichung Commercial Bank
Securities Co., Ltd.
1953.08.26 No. 87, Minquan Road, West District,
Taichung		 31,840,027 Banking business
as permitted under
the Banking Act.
2007.09.26 8F., No. 87, Minquan Road, West
District, Taichung		 500,000 Insurance
brokerage.
2012.01.13 4F-5., No.50, Sec. 1, Xinsheng S. Rd.,
Zhongzheng Dist., Taipei City		 1,850,000 Leasing Operation.
2012.06.13 P.O. Box 957, Offshore Incorporations
Centre, Road Town, Tortola, British
Virgin Islands.		 893,373 Leasing and
investments.
2012.12.11 Room 402, Property Business Plaza,
No.158, Wangdun Road, Industrial Park
of Suzhou, Jiangsu
893,373		 Leasing.
2013.05.02 1, 2F., No. 45, Minzu Rd., Central
Dist., Taichung		 1,500,000 Securities and
futures business

109

109

3. Profiles of Directors, Supervisors and Presidents of the bank’s subsidiaries

Unit: Thousand shares

3. Profiles of Dir ectors, Supervisors and Presidents of the ban k’s subsidiaries
Unit: Thousand shares		 k’s subsidiaries
Unit: Thousand shares
Name of enterprise Title Company name or representative Status of shareholding
Quantity Ratio of
Shareholding
Controlling company:
Taichung
Commercial Bank
Co., Ltd.
Subsidiary companies:
Taichung Bank
Insurance Brokers
Co., Ltd.
Taichung
Bank Leasing
Co., Ltd.
TCCBL Co., Ltd.
Taichung
Commercial
Bank Leasing
(Suzhou) Ltd.
Taichung
Commercial Bank
Securities Co., Ltd.		 Chairman
Vice Chairman
Managing Director
Managing Director
Director
Director
Director
Director
Independent director
Independent director
Independent director
President
Chairman
Director
Supervisor
Chairman
Director
Supervisor
Chairman
Chairman
Director
Supervisor
Chairman
Director
Supervisor


Representative to Hsu Tian Investment Co., Ltd.:
Chun-Sheng Lee
Representative to Hsu Tian Investment Co., Ltd.:
Kuei-Fong Wang
Representative to Hsu Tian Investment Co., Ltd.:
Jer-Shyong Tsai
Representative to Hsu Tian Investment Co., Ltd.:
Chin-Yuan Lai
Representative to Hsu Tian Investment Co., Ltd.:
Ming-Shan Chuang
Hsin-Ching Chang
Shu-Yuan Lin
Wei-Liang Lin
Representative to I Joung Investment Co., Ltd.:
Ching-Hsin Chang
Representative to Ho Yang Management Consultant Co., Ltd.:
Yu-Chun Chen
Chien-Hui Huang
Representative of Pan Asia Chemical Corporation:
Meng-Liang Chang
Chen-Le Liu
Jin-Yi Lee
Hsi-Rong Huang
Chin-Yuan Lai
Taichung Commercial Bank Co., Ltd. Representative:
Kuei-Fong Wang
Taichung Commercial Bank Co., Ltd. Representative:
Huan-Te Wang
Deh-Wei Chia
Taichung Commercial Bank Co., Ltd. Representative:
Chung-Ping Yang
Taichung Commercial Bank Co., Ltd. Representative:
Wei-Liang Lin
Taichung Commercial Bank Co., Ltd. Representative:
Jer-Shyong Tsai
Deh-Wei Chia
Yi-Yuan Tung
Yao-Hsiang Shih
Taichung Commercial Bank Co., Ltd. Representative:
Hsin-Ching Chang
Taichung Bank Leasing Co., Ltd. Representative:
Hsin-Ching Chang
Taichung Bank Leasing Co., Ltd. Representative:
Hsin-Ching Chang
Taichung Bank Leasing Co., Ltd. Representative:
Wei-Liang Lin
Jui-Yang Lin
Taichung Bank Leasing Co., Ltd. Representative:
Yao-Hsiang Shih
Taichung Commercial Bank Co., Ltd. Representative:
Shu-Yuan Lin
Taichung Commercial Bank Co., Ltd. Representative:
Gon-Bi Chang
Kuo-Hui Nin
Ching-Tai Huang
Mei-Li Yeh
Taichung Commercial Bank Co., Ltd. Representative:
Chi-Chuan Fang		 42,005
603
42,005
360
42,005
-
42,005
667
42,005
-
-
-
-
18,017
83
1,691
-
-
184,361
-
-
-
-
667
50,000
-
50,000
-
-
50,000
-
185,000
-
185,000
-
-
-
-
185,000
-
30,000
-
-
-
-
-
-
-
-
150,000
-
150,000
-
-
-
-
150,000
-		 1.32%
0.02%
1.32%
0.01%
1.32%
-
1.32%
0.02%
1.32%
-
-
-
-
0.57%
-
0.05%
-
-
5.79%
-
-
-
-
0.02%
100.00%
-
100.00%
-
-
100.00%
-
100.00%
-
100.00%
-
-
-
-
100.00%
-
100.00%
-
100.00%
-
100.00%
-
-
100.00%
-
100.00%
-
100.00%
-
-
-
-
100.00%
-

110

110

4. Operation overview of the bank’s subsidiaries

Unit: in NTD thousand unless otherwise specified

Name of enterprise Capital Total assets Total
liabilities		 Equity Net income
(loss)		 Income (loss)
before taxation		 Income (loss)
after taxation		 Earnings Per
Share (NTD)
(After
taxation)
Controlling company:
Taichung Commercial Bank
Co., Ltd.
Subsidiary companies:
Taichung Bank Insurance
Brokers Co., Ltd.
Taichung Bank Leasing
Co., Ltd.
TCCBL Co., Ltd.
Taichung Commercial
Bank Leasing (Suzhou) Ltd.
Taichung Commercial Bank
Securities Co.,Ltd.		 31,840,027
500,000
1,850,000
893,373
893,373
1,500,000





572,866,754
1,109,798
4,389,657
1,141,592
1,830,553
2,029,080





532,920,765
258,754
2,490,970
211,686
940,268
591,181





39,945,989
851,044
1,898,687
929,906
890,285
1,437,899





9,312,132
704,393
119,232
(29,438)
50,687
163,801





4,067,832
368,606
6,298
(29,021)
(44,558)
(42,962)





3,477,032
295,384
423
(29,021)
(35,997)
(41,151)





1.14
5.91
-
-
-
(0.27)

(II) Consolidated financial statement of subsidiaries

The Bank is required to prepare consolidated financial statements with its subsidiaries under the “Standards for the Preparation of Consolidated Report on Operation, Consolidated Financial Statements, and Report on Affiliations between Parent and Subsidiaries”. Subsidiaries of the Bank under the aforementioned legal rule are identical with the subsidiaries defined under Financial Accounting Standard No. 10 on “Consolidated Financial Statements”. Information on Financial Status and operation performance of such subsidiaries has been included in the disclosure of the aforementioned consolidated financial statement between parent and subsidiaries and therefore will not be prepared separately. For further information, please refer to the aforementioned consolidated statement.

(III) Affiliation Report

1. Relations between parent and subsidiaries

Name of holding
company		 f hldi Status of shareholding and lien of stock by holding company Status of shareholding and lien of stock by holding company Status of shareholding and lien of stock by holding company Directors, Supervisors or managers
appointed byholdingcompany		 Directors, Supervisors or managers
appointed byholdingcompany
Reason o ong Shares Ratio of
Shareholding		 Shares under lien Title Name
Hsu Tian Investment
Co., Ltd.
China Man-Made
Fiber Co., Ltd.
Chung Chien
Investment Co., Ltd.		 Win a majority of
director seats of the
Bank
Indirectly control
over the HR, finance
or operation of the
Bank
Indirectly control
over the HR, finance
or operation of the
Bank		 42,005,217
710,859,467
-
1.32%

22.33%

-		 -
170,000,000
-
Chairman
Vice Chairman
Managing
Director
Managing
Director
Director
Director
Director
Director
-
-		 Chun-Sheng Lee
Kuei-Fong Wang
Jer-Shyong Tsai
Chin-Yuan Lai
Ming-Shan
Chuang
Hsin-Ching
Chang
Shu-Yuan Lin
Wei-Liang Lin
-
-

  1. Transactions between subsidiaries and Parent Name of enterprise: None.

  2. Guarantees/endorsements between subsidiaries and Parent Name of enterprise: None.

111

111

Statement of Declaration

The Bank Affiliation Report 2015 (from January 1, 2015 to December 31, 2015) was prepared in accordance with the “Criteria Governing Preparation of Report on Affiliations, Consolidated Business Reports and Consolidated Financial Statements of Affiliated Enterprises”, and the information disclosed herein is materially consistent with that disclosed in the notes to the financial statement for the previous period.

Company name: Taichung Commercial Bank Co., Ltd.

Responsible Person: Chun-Sheng Lee

Date: March 9, 2016

112

112

CPA’s Review Comments

To: Taichung Commercial Bank Co., Ltd.

We conducted the audit on the financial statements of Taichung Commercial Bank Company Limited for 2015 in accordance with the “Standards on the Audit of Financial Statements” and the audit principle generally accepted in the Republic of China, and we have issued unqualified opinions dated March 9, 2016. The purpose of the audit is to give an opinion on the fair presentation of the said financial statements. The Affiliation Report for prepared by Taichung Commercial Bank was attached. The 2015 Affiliation Report prepared by the Taichung Commercial Bank is attached. Such report was prepared in accordance with the “Criteria Governing Preparation of Affiliation Reports, Consolidated Business Reports, and Consolidated Financial Statements of Affiliated Enterprises.” An audit review requires us to proceed with the necessary procedures, including the acquisition of customer’s declaration and the confirmation on related information. The review has been successfully accomplished.

In our opinion, the Affiliation Report for 2015 prepared by Taichung Commercial Bank is in compliance with the “Criteria Governing Preparation of Affiliation Reports, Consolidated Business Reports and Consolidated Financial Statements of Affiliated Enterprises” and the contents of financial information are identical with those presented in the financial statements. No material amendments to the information shall be required.

Deloitte & Touche Wen-Ya Hsu, CPA Kuan-Chung Lai, CPA

Securities and Futures Bureau Approval Securities and Futures Bureau Approval Document No. Document No. Tai-Cai-Jheng (6) No. 0920123784 Tai-Cai-Jheng (6) No. 0920123784

Date: March 9, 2016

113

113

  • II. In the most recent year to the date this report was printed, private placement of securities and Bank debentures: None.

  • III. In the most recent year to the date this report was printed, the holding or disposition of the shares of the Bank held by the subsidiaries: None.

  • IV. Other Supplementary Disclosure: None.

  • V. The occurrence of events as stated in Article 36-3-(2) of the Securities and Exchange Act in the previous year to the date this report was printed and the influence on shareholders’ equity or stock price: None.

114

114

Nine. Branches of Taichung Commercial Bank at a Glance

Name Tel. No. Fax No. Postal
code		 Address
Head Office
Min Chuan Building 04-22236021 04-22240748 40341 No.87, Minquan Rd., West Dist., Taichung City
Min Zu Building 04-22236023 04-22278584 40041 No.45, Minzu Rd., West Dist., Taichung City
Trust Dept. 04-22236021 04-22202327 40341 8F., No.87, Minquan Rd., West Dist., Taichung
City
International Banking
Dept.		 04-22212933 04-22202046 40341 2F., No.87, Minquan Rd., West Dist., Taichung
City
Taipei City
Taipei Branch 02-23211819 02-23212659 10049 No.85, Sec. 1, Zhongxiao E. Rd., Zhongzheng
Dist., Taipei
Songshan Branch 02-27658666 02-27658368 11072 No.176, Sec. 1, KeelungRd., Xinyi Dist., Taipei
Neihu Branch 02-26579899 02-26578887 11492 No.306, RuiguangRd., Neihu Dist., Taipei
FuxingBranch 02-27735556 02-27739828 10595 No.59, Fuxing N. Rd., Songshan Dist., Taipei
Zhongshan Branch 02-25417700 02-25415050 10450 No.28, Changchun Rd., Zhongshan Dist., Taipei
Taitung Branch 02-25958968 02-25954123 10374 No.196 & 198, Sec. 3, Chongqing N. Rd.,
Datong Dist., Taipei
Overseas Banking
Branch		 02-23219858 02-23216358 10049 8F.-4, No.85, Sec. 1, Zhongxiao E. Rd.,
Zhongzheng Dist., Taipei
New Taipei City
Banchiao Branch 02-29563456 02-29581616 22067 No.28-2, Sec. 1, Minsheng Rd., Banqiao Dist.,
New Taipei
Sanzhong Branch 02-29877878 02-29872411 24141 No.2, Zhongzheng N. Rd., Sanchong Dist., New
Taipei
Xinzhuang Branch 02-29017888 02-29013040 24257 No.651, Zhongzheng Rd., Xinzhuang Dist.,
New Taipei
Linkou Branch 02-26021888 02-26014522 24443 No.8, Zhulin Rd., Linkou Dist., New Taipei
Tucheng Branch 02-82603158 02-82601658 23659 No.56, Sec. 2, Mingde Rd., Tucheng Dist., New
Taipei
Taoyuan City
Neili Branch 03-4610566 03-4620277 32067 No.24, Zhongxiao Rd., Zhongli Dist., Taoyuan
Jhongli Branch 03-4228828 03-4228826 32085 No.326, YanpingRd., Zhongli Dist., Taoyuan
Taoyuan Branch 03-3333389 03-3331599 33058 1&2F., No.324, Zhongshan Rd., Taoyuan Dist.,
Taoyuan
Yangmei Branch 03-4855288 03-4855859 32645 No.337-1, XinnongSt., Yangmei Dist., Taoyuan
Nan Kang Branch 03-3216611 03-2223311 33859 No.288, Sec. 1, Nankan Rd., Luzhu Dist.,
Taoyuan
Kueishan Branch 03-3590005 03-3592166 33342 No.1185, Sec. 2, Wanshou Rd., Guishan Dist.,
Taoyuan
Tayuan Branch 03-3857001 03-3859033 33753 No.47, Daguan Rd., Dayuan Dist., Taoyuan
Hsinchu City
Hsinchu Branch 03-5257288 03-5233566 30046 No.128, Siwei Rd., North Dist., Hsinchu
Hsinchu County
Zhubei Branch 03-6675188 03-6675168 30264 No.276, Dong Sec. 1, Guangming 6th Rd.,
Zhubei City, Hsinchu

115

115

Name Tel. No. Fax No. Postal
code		 Address
Xsin Feng Branch 03-5590929 03-5590788 30442 No.155-12, Sec. 1, Jianxing Rd., Xinfeng
Township, Hsinchu
Miaoli County
Zhunan Branch 037-481148 037-480465 35041 No.66, Heping St., Zhunan Township, Miaoli
Yuanli Branch 037-866366 037-866316 35844 No.79, Xinyi Rd., Yuanli Township, Miaoli
Taichung City
Zhong Zheng Branch 04-22245181 04-22251969 40044 No.333, Sec. 1, Taiwan Blvd., Central Dist.,
Taichung
N. TaipingBranch 04-22121298 04-22120800 40147 No.66, Jingwu E. Rd., East Dist., Taichung
S. Taichung Branch 04-22244187 04-22253055 40247 No.355, Sec. 3, Fuxing Rd., South Dist.,
Taichung
Business Dept. 04-22274567 04-22232926 40341 No.87, Minquan Rd., West Dist., Taichung
W. TaichungBranch 04-23212501 04-23211847 40356 No.369, Gongyi Rd., West Dist., Taichung
N. Taichung Branch 04-22920832 04-22957526 40462 No.822, Sec. 1, Zhongqing Rd., North Dist.,
Taichung
Peitun Branch 04-22316266 04-22316168 40646 No.80, Jinhua N. Rd., Beitun Dist., Taichung
Junkong Branch 04-24371151 04-24367374 40663 No.222, Sec. 1, Dongshan Rd., Beitun Dist.,
Taichung
Simin Branch 04-24226165 04-24226567 40673 No.199, Sec. 3, Chongde Rd., Beitun Dist.,
Taichung
Xitun Branch 04-27060696 04-27010309 40744 No.436, Sec. 2, Henan Rd., Xitun Dist.,
Taichung
Nantun Branch 04-23824358 04-23828070 40869 1&2F., No.663, Sec. 2, Wuquan W. Rd., Nantun
Dist., Taichung
Taiping Branch 04-22700756 04-22708629 41142 No.115, Zhongxing Rd., Taiping Dist.,
Taichung
Neixin Branch 04-24830345 04-24838958 41254 No.339, Sec. 2, Zhongxing Rd., Dali Dist.,
Taichung
Wufong Branch 04-23391165 04-23326083 41341 No.829, Zhongzheng Rd., Wufeng Dist.,
Taichung
Wuri Branch 04-23373176 04-23373180 41442 No.107, Sanmin St., Wuri Dist., Taichung
S. Fongyuan Branch 04-25261195 04-25284637 42050 No.232, Zhongshan Rd., Fengyuan Dist.,
Taichung
Nanyang Branch 04-25244426 04-25284638 42051 No.338, Yuanhuan E. Rd., Fengyuan Dist.,
Taichung
Fongyuan Branch 04-25244171 04-25244178 42056 No.302-1, Zhongzheng Rd., Fengyuan Dist.,
Taichung
E. Fongyuan Branch 04-25260175 04-25279944 42060 No.203, Sanmin Rd., Fengyuan Dist., Taichung
Houli Branch 04-25571180 04-25573081 42151 No.95, Minsheng Rd., Houli Dist., Taichung
Dongshi Branch 04-25872185 04-25875203 42343 No.61, Zhongshan Rd., Dongshi Dist., Taichung
Tanzi Branch 04-25323121 04-25338460 42751 No.76, Sec. 3, Tanxing Rd., Tanzi Dist.,
Taichung
Daya Branch 04-25668161 04-25671143 42878 1&2F., No.999, Sec. 3, Zhongqing Rd., Daya
Dist., Taichung

116

116

Name Tel. No. Fax No. Postal
code		 Address
Shengang Branch 04-25621501 04-25627404 42944 No.325, Sec. 5, Changping Rd., Shengang Dist.,
Taichung
Dadu Branch 04-26991166 04-26991170 43242 No.788, Sec. 2, Shatian Rd., Dadu Dist.,
Taichung
Shalu Branch 04-26621101 04-26622467 43350 1&2F., No.298, Zhongshan Rd., Shalu Dist.,
Taichung
Lungjing Branch 04-26326788 04-26323566 43448 No.77, Youyuan S. Rd., Longjing Dist.,
Taichung
TaichungkangBranch 04-26571191 04-26571517 43542 No.36, Bade Rd., Wuqi Dist., Taichung
Qingshui Branch 04-26226106 04-26227587 43653 No.104, Zhongshan Rd., Qingshui Dist.,
Taichung
Dajia Branch 04-26862151 04-26875838 43746 No.42, JianggongRd., Dajia Dist., Taichung
Changhua County
Changhua Branch 04-7224641 04-7221431 50061 No.126, Guangfu Rd., Changhua City,
Changhua
Dazhu Branch 04-7387648 04-7386907 50078 No.364, Sec. 1, Zhangnan Rd., Changhua City,
Changhua
Huatan Branch 04-7868775 04-7869067 50343 No.446, Sec. 1, Zhongshan Rd., Huatan
Township, Changhua
Xiushui Branch 04-7693525 04-7698148 50448 1&2F., No.597, Sec. 2, Zhangshui Rd., Xiushui
Township, Changhua
Lukang Branch 04-7780545 04-7762275 50563 No.266, Zhongshan Rd., Lukang Township,
Changhua
Homei Branch 04-7562171 04-7562175 50846 No.393, Sec. 6, Luhe Rd., Hemei Township,
Changhua
Shenkang Branch 04-7983171 04-7988403 50941 No.111, Zhongshan E. Rd., Shengang
Township, Changhua
Yuanlin Branch 04-8326141 04-8332927 51046 No.27, Zhongshan S. Rd., Yuanlin City,
Changhua
N. Yuanlin Branch 04-8322141 04-8354844 51050 No.116, Sec. 2, Datong Rd., Yuanlin City,
Changhua
Shetou Branch 04-8731466 04-8720427 51141 No.311, Sec. 2, Yuanji Rd., Shetou Township,
Changhua
Yongjing Branch 04-8232363 04-8232549 51247 No.71, Ximen Rd., Yongjing Township,
Changhua
Puxin Branch 04-8281437 04-8281442 51347 No.217, Sec. 1, Zhongzheng Rd., Puxin
Township, Changhua
Xihu Branch 04-8853311 04-8814498 51452 No.290, Sec. 3, Zhangshui Rd., Xihu Township,
Changhua
Tianzhong Branch 04-8742206 04-8741514 52042 No.197, Sec. 1, Zhongzhou Rd., Tianzhong
Township, Changhua
Peitou Branch 04-8884146 04-8885331 52146 No.180, Sec. 1, Douyuan Rd., Beidou
Township, Changhua

117

117

Name Tel. No. Fax No. Postal
code		 Address
Pitou Branch 04-8924606 04-8924335 52341 No.163, Douyuan W. Rd., Pitou Township,
Changhua
Erlin Branch 04-8962125 04-8962677 52662 No.496, Ren’ai Rd., Erlin Township, Changhua
Nantou County
Nantou Branch 049-2222146 049-2222481 54058 No.52, Minsheng St., Nantou City, Nantou
Caotun Branch 049-2334146 049-2303149 54263 No.141, Bishan Rd., Caotun Township, Nantou
Puli Branch 049-2984001 049-2901265 54555 No.62, XikangRd., Puli Township, Nantou
Zhushan Branch 049-2643181 049-2653081 55747 No.148, Zhushan Rd., Zhushan Township,
Nantou
Yunlin County
Dounan Branch 05-5954879 05-5954891 63041 No.151-9, Zhongshan Rd., Dounan Township,
Yunlin
Huwei Branch 05-6313788 05-6310599 63246 No.57-2, Sec. 2, Linsen Rd., Huwei Township,
Yunlin
Chiayi County
Minghsiung Branch 05-2208833 05-2205533 62159 No.78, Sec. 2, Jianguo Rd., Minxiong
Township, Chiayi
Tainan City
YongkangBranch 06-3026678 06-3035659 71049 No.760, Zhonghua Rd., YongkangDist., Tainan
Kaohsiung City
Kaohsiung Branch 07-3355275 07-3346981 80251 1&2F., No.11, Minquan 1st Rd., Lingya Dist.,
Kaohsiung
Feng Shan Branch 07-7216719 07-7211423 83081 1&2F., No.172, Wuqing 2nd Rd., Fengshan
Dist., Kaohsiung

118

118

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Auditor’s Report

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" Yg"jcxg"cwfkvgf"vjg"ceeqorcp{kpi"eqpuqnkfcvgf"dcncpeg"ujggv"qh"Vckejwpi"Eqoogtekcn"Dcpm" Eq0." Nvf0" cpf" uwdukfkct{" cu" qh" Lcpwct{" 3" vq" Fgegodgt" 53." 4237" cpf" 4236." cpf" vjg" tgncvgf" eqpuqnkfcvgf" uvcvgogpv" qh" kpeqog." eqpuqnkfcvgf" uvcvgogpv" qh" ejcpigu" kp" ujctgjqnfgtu" gswkv{" cpf" eqpuqnkfcvgf"uvcvgogpv"qh"ecuj"hnqyu"hqt"vjg"{gctu"vjgp"gpfgf0"Uckf"eqpuqnkfcvgf"hkpcpekcn"uvcvgogpv" ku" vjg" tgurqpukdknkv{" qh" vjg" ocpcigogpv0" Qwt" tgurqpukdknkv{" ku" vq" gzrtguu" cp" qrkpkqp" qp" vjg" eqpuqnkfcvgf"hkpcpekcn"uvcvgogpv"dcugf"qp"qwt"cwfkvu0"

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" Cu"uvcvgf"kp"Pqvg"5"qh"vjg"Eqpuqnkfcvgf"Hkpcpekcn"Uvcvgogpvu."Vckejwpi"Eqoogtekcn"Dcpm" cpf"kvu"uwdukfkctkgu"uvctvgf"vq"cfqrv"vjg"4235"xgtukqp"qh"KHTU."KCU."KHTKE."cpf"UKE"tgeqipk|gf"d{" vjg"Hkpcpekcn"Uwrgtxkuqt{"Eqookuukqp"*HUE+"ykvj"tgvtqcevkxg"cflwuvogpv"qh"vjg"ghhgev"qp"hkpcpekcn" uvcvgogpvu"eqorkngf"dghqtg"vjg"crrnkecvkqp"qh"vjg"chqtgogpvkqpgf"KHTU."KCU."KHTKE."cpf"UKE"ukpeg" 42370" "

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121

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34"

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36"

132

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  • Pqvg"4<" Cogpfogpvu"vq"vjg"KHTU"4"ctg"crrnkecdng"vq"vjg"ujctg/dcugf"vtcpucevkqpu"chvgt" vjg"rc{ogpv"fcvg"qh"Lwn{"3."42360"Cogpfogpvu"vq"vjg"KHTU"5"ctg"crrnkecdng"vq" vjg"dwukpguu"ogtigt"chvgt"vjg"ceswkukvkqp"fcvg"qh"Lwn{"3."42360"Cogpfogpvu"vq" vjg"KHTU"35"ujcnn"gpvgt"kpvq"hqteg"koogfkcvgn{0"Vjg"tgockpkpi"cogpfogpvu"ctg" crrnkecdng"kp"vjg"{gctu"chvgt"Lwn{"3."42360"

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  • 40" Vjg"jqnfkpi"qh"hkpcpekcn"cuugvu"ku"hqt"rwtrqug"qh"eqnngevkpi"vjg"eqpvtcev"ecuj"hnqy" xqnwog"cpf"hqt"ugnnkpi"vjg"hkpcpekcn"cuugvu"ujcnn"dg"ogcuwtgf"cv"hckt"xcnwg"vjtqwij" eqpuqnkfcvgf" kpeqog" uvcvgogpvu0" Vjku" ecvgiqt{" qh" hkpcpekcn" cuugvu" ujcnn" dg" tgeqipk|gf"cu"rtqhkv"qt"nquu"qp"vjg"kpvgtguv"ecnewncvgf"wpfgt"vjg"ghhgevkxg"kpvgtguv" tcvg"ykvj"eqpvkpwgf"cuuguuogpv"qh"korcktogpv0"Cp{"ickpu"qt"nquu"htqo"korcktogpv" qt"gzejcpig"ujcnn"cnuq"dg"tgeqipk|gf"cu"rtqhkvu"qt"nquu0"Vjg"ejcpig"kp"hckt"xcnwg" ujcnn" dg"tgeqipk|gf" vjtqwij" eqpuqnkfcvgf" kpeqog" uvcvgogpv0" Hqt" tgoqxcn" qh" vjg" hkpcpekcn" cuugvu" htqo" dqqm" nkuvkpi" qt" tgencuukhkecvkqp." vjg" ejcpig" kp" hckt" xcnwg" rtgxkqwun{" ceewowncvgf" kp" vjg" eqpuqnkfcvgf" hkpcpekcn" uvcvgogpv" ujcnn" dg" tgencuukhkgf"cu"rtqhkvu"qt"nquu0"

37"

133

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38"

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  • 40" Ngxgn"4"kprwv"xcnwg<"tghgtu"vq"vjg"fktgev"vjg"rtkeg+"qt"kpfktgev"kphgtgpeg"qh"rtkeg+" qdugtxcdng"kprwv"xcnwg"qh"cuugv"qt"nkcdknkv{"hwtvjgt"vq"vjg"swqvcvkqp"qh"Ngxgn"30"

  • 50" Ngxgn"5"kprwv"xcnwg<"vjg"wpqdugtxcdng"kprwv"xcnwg"qh"cuugv"qt"nkcdknkv{"

  • *5+" Uvcpfctfu"kp"fkhhgtgpvkcvkpi"ewttgpv"cpf"pqp/ewttgpv"cuugvu"cpf"nkcdknkvkgu0"

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  • *6+" Dcuku"qh"eqpuqnkfcvkqp"

  • 30" Rtkpekrng"qh"eqpuqnkfcvgf"hkpcpekcn"uvcvgogpvu"rtgrctcvkqp

Vjku" eqpuqnkfcvgf" hkpcpekcn" uvcvgogpv" eqpvckpu" vjg" kphqtocvkqp" qh" vjg" hkpcpekcn"uvcvgogpvu"qh"vjg"Dcpm"cpf"kvu"eqpvtqnngf"gpvkvkgu"*uwdukfkctkgu+0"

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39"

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  • 50" Vjg"uwdukfkctkgu"pqv"kpenwfgf"kp"vjg"eqpuqnkfcvgf"hkpcpekcn"uvcvgogpvu<"Pqpg0"

*7+" Hqtgkip"ewttgpe{"

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Hqtgkip"ewttgpe{"oqpgvct{"kvgou"ctg"vtcpuncvgf"cv"vjg"enqukpi"tcvg"qp"gcej"dcncpeg" ujggv"fcvg0"Vjg"gzejcpig"fkhhgtgpegu"ctkukpi"htqo"vjg"ugvvngogpv"qh"oqpgvct{"kvgou"qt" vtcpuncvkpi"oqpgvct{"kvgou"ctg"tgeqipk|gf"kp"vjg"ewttgpv"rtqhkv"qt"nquu0"

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  • *8+" Ecuj"cpf"ecuj"gswkxcngpvu"

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  • *9+" Dqpfu"Rwtejcugf"wpfgt"Tgugnn1Pqvgu"Kuuwgf"wpfgt"Tgrwtejcug"Citggogpvu"

Hqt"wpfgtytkvvgp"dqpfu"cpf"ugewtkvkgu"vjcv"ctg"uqnf"wpfgt"TR"cpf"TU"citggogpvu." tgeqipk|g" kpvgtguv" gzrgpug" cpf" kpvgtguv" kpeqog" qp" vjg" ceetwcn" dcuku" dgvyggp" vjg" rwtejcug" cpf" ucng" fcvgu" cpf" citggf" TR" cpf" TU" fcvg=" cnuq." tgeqipk|g" TR" *Fgdv+" cpf" dqpfu"cpf"ugewtkvkgu"uqnf"wpfgt"tgugnn"citggogpvu"dgvyggp"vjg"ucng"cpf"rwtejcug"fcvgu0"

3:"

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*:+" Kpxguvogpvu"kp"vjg"chhknkcvgf"eqorcp{"

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  • *;+" Rtqrgtv{."rncpv."cpf"gswkrogpv"

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Rtqrtkgvct{"ncpf"ku"pqv"fgrtgekcvgf0"

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Vjg"fg/tgeqipk|gf"rtqhkv"qt"nquu"ctkukpi"htqo"vjg"rtqrgtv{."rncpv"cpf"gswkrogpv"ku" vjg"fkhhgtgpeg"dgvyggp"vjg"pgv"fkurqucn"rtqeggfu"cpf"vjg"dqqm"coqwpv"qh"vjg"cuugv"cpf"kv" ku"tgeqipk|gf"kp"rtqhkv"qt"nquu0"

  • *32+" Kpvcpikdng"cuugvu"

  • 30" Ceswktgf"ugrctcvgn{"

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  • 40" Fg/tgeqipkvkqp"

3;"

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  • 33+" Korcktogpv"qh"vcpikdng"cpf"kpvcpikdng"cuugvu"gzegrv"hqt"iqqfyknn+0"

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Yjgp"vjg"korcktogpv"nquu"ycu"tgxgtugf"uwdugswgpvn{."vjg"dqqm"coqwpv"qh"vjg"cuugv" qt" ecuj/igpgtcvkpi" wpkv" ku" kpetgcugf" vq" vjg" cflwuvgf" tgeqxgtcdng" coqwpv." dwv" vjg" kpetgcugf"dqqm"coqwpv"oc{"pqv"gzeggf"vjg"dqqm"coqwpv"qh"vjg"cuugv"qt"ecuj/igpgtcvkpi" wpkv"ykvjqwv"tgeqipk|kpi"vjg" korcktogpv"nquu"kp"rtkqt" rgtkqfu" *pgv" qh"coqtvk|cvkqp"qt" fgrtgekcvkqp+0"Vjg"tgxgtugf"korcktogpv"nquu"ku"tgeqipk|gf"kp"vjg"rtqhkv"qt"nquu0"

*34+" Hkpcpekcn"kpuvtwogpvu"

Yjgp"vjg"eqpuqnkfcvgf"eqorcp{"jcu"dgeqog"c"rctv{"vq"vjg"kpuvtwogpv"eqpvtcev."vjg" hkpcpekcn"cuugvu"cpf"hkpcpekcn"nkcdknkvkgu"ctg"vq"dg"tgeqipk|gf"kp"vjg"eqpuqnkfcvgf"dcncpeg" ujggv0"

Hqt" vjg" kpkvkcn" tgeqipkvkqp" qh" vjg" hkpcpekcn" cuugvu" cpf" hkpcpekcn" nkcdknkvkgu." kh" vjg" hkpcpekcn"cuugvu"qt"hkpcpekcn"nkcdknkvkgu"ctg"pqv"ogcuwtgf"cv"hckt"xcnwg"vjtqwij"rtqhkv"qt" nquu."kv"ku"ogcuwtgf"cv"hckt"xcnwg"rnwu"vtcpucevkqp"equv"vjcv"ku"fktgevn{"cvvtkdwvcdng"vq"vjg" ceswkukvkqp"qt"kuuwcpeg"qh"hkpcpekcn"cuugvu"qt"hkpcpekcn"nkcdknkvkgu0"Vjg"vtcpucevkqp"equv" fktgevn{" cvvtkdwvcdng" vq" vjg" ceswkukvkqp" qt" kuuwcpeg" qh" hkpcpekcn" cuugvu" qt" hkpcpekcn" nkcdknkvkgu"vjcv"ctg"ogcuwtgf"cv"hckt"xcnwg"vjtqwij"rtqhkv"qt"nquu"ku"koogfkcvgn{"tgeqipk|gf" kp"vjg"rtqhkv"qt"nquu0"

30" Hkpcpekcn"cuugvu"

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*3+" Encuukhkecvkqp"qh"ogcuwtgogpv"

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42"

138

Hkpcpekcn" cuugvu" ogcuwtgf" cv" hckt" xcnwg" vjtqwij" rtqhkv" qt" nquu" kpenwfgu" jgnf/hqt/ucng" cpf" fgukipcvgf" hkpcpekcn" cuugvu" ogcuwtgf" cv" hckt" xcnwg"vjtqwij"rtqhkv"qt"nquu0"

Hkpcpekcn" cuugv" ogcuwtgf" cv" hckt" xcnwg" vjtqwij" rtqhkv" qt" nquu" ku" ogcuwtgf"cv"hckt"xcnwg"cpf"vjg"rtqhkv"qt"nquu"igpgtcvgf"htqo"vjg"ugeqpfct{" ogcuwtgogpv"ku"tgeqipk|gf"cu"rtqhkv"qt"nquu"*pqv"kpenwfgu"cp{"fkxkfgpf"qt" kpvgtguv"ctkukpi"htqo"vjg"hkpcpekcn"cuugv+0"Rngcug"tghgt"vq"Pqvg"59"hqt"vjg" fgvgtokpcvkqp"qh"hckt"xcnwg0"

Kh"vjg"hkpcpekcn"cuugv"ogcuwtgf"cv"hckt"xcnwg"vjtqwij"rtqhkv"qt"nquu"ku" cp"gswkv{"kpxguvogpv"pq"rwdnke"octmgv"rtkeg"cxckncdng"cpf"vjg"hckt"xcnwg" ecppqv" dg" tgnkcdn{" ogcuwtgf" cpf" vjg" fgtkxcvkxgu" vjcv" ctg" nkpmgf" vq" vjg" gswkv{" kpuvtwogpv" ykvjqwv" c" octmgv" swqvg" cpf" vjg" ugvvngogpv" owuv" dg" eqorngvgf" ykvj" vjg" gswkv{" kpuvtwogpv" fgnkxgtgf." kv" ku" ogcuwtgf" uwdugswgpvn{" cv" equv." pgv" qh" vjg" korcktogpv" nquu" cpf" kv" ku" kpfkxkfwcnn{" dqqmgf" as “Fkpcpekcn"cuugvu"ogcuwtgf"cv" cost.”"Kh"vjgug"hkpcpekcn"cuugvu" ecp"dg"ogcuwtgf"uwdugswgpvn{"cv"hckt"xcnwg"tgnkcdn{."kv"ku"ogcuwtgf"cickp" cv"hckt"xcnwg"cpf"vjg"fkhhgtgpeg"dgvyggp"vjg"dqqm"coqwpv"cpf"hckt"xcnwg"ku" tgeqipk|gf"kp"vjg"rtqhkv"qt"nquu0"

D0"Jgnf/vq/ocvwtkv{"kpxguvogpvu"

Vjg" iqxgtpogpv" dqpfu" cpf" fqoguvke" cpf" kpvgtpcvkqpcn" eqtrqtcvg" dqpfu"cpf"hqtgkip"iqxgtpogpv"dqpfu"ykvj"urgekhke"etgfkv"tcvkpiu"vjcv"ctg" kpxguvgf"d{"vjg"eqpuqnkfcvgf"eqorcp{"cpf"vjg"eqpuqnkfcvgf"eqorcp{"jcu" vjg"rqukvkxg"kpvgpvkqp"cpf"cdknkv{"vq"jqnf"kv"vq"ocvwtkv{"ctg"encuukhkgf"cu" jgnf/vq/ocvwtkv{"kpxguvogpvu0"

Vjg"jgnf/vq/ocvwtkv{"hkpcpekcn"cuugvu"chvgt"vjg"kpkvkcn"tgeqipkvkqp"ctg" ogcuwtgf" cv" vjg" coqtvk|gf" equv" chvgt" fgfwevkpi" korcktogpv" nquugu" kp" ceeqtfcpeg"ykvj"vjg"ghhgevkxg"kpvgtguv"ogvjqf0"

E0"Cxckncdng/hqt/Ucng"Hkpcpekcn"Cuugvu"

Cxckncdng/hqt/ucng"hkpcpekcn"cuugvu"ctg"pqp/fgtkxcvkxg"hkpcpekcn"cuugvu" vjcv"ctg"fgukipcvgf"cu"cxckncdng/hqt/ucng"qt"ctg"pqv"encuukhkgf"cu"nqcpu"cpf" tgegkxcdngu."jgnf/vq/ocvwtkv{"kpxguvogpvu"qt"hkpcpekcn"cuugvu"ogcuwtgf"cv" hckt"xcnwg"vjtqwij"rtqhkv"qt"nquu0"

Hkpcpekcn"cuugvu"cxckncdng"hqt"ucng"ctg"ogcuwtgf"cv"hckt"xcnwg0"Kh"vjg" ejcpig"kp"dqqm"xcnwg"qh"hkpcpekcn"cuugvu"cxckncdng"hqt"ucng"ku"gzejcpig" ickp1nquu"htqo"hqtgkip"ewttgpekgu."tgeqipk|g"cu"rtqhkv"qt"nquu"dcugf"qp"vjg" kpvgtguv" kpeqog" ecnewncvgf" wpfgt" vjg" ghhgevkxg" kpvgtguv" tcvg0" Vjg" ucog" rtkpekrng"ku"crrnkecdng"vq"vjg"fkxkfgpf"qh"gswkv{"kpxguvogpv"cxckncdng"hqt" ucng0" Vjg" ejcpigu" kp" vjg" dqqm" xcnwg" qh" vjg" qvjgt" cxckncdng/hqt/ucng" hkpcpekcn"cuugvu"ctg"tgeqipk|gf"kp"vjg"qvjgt"eqortgjgpukxg"rtqhkv"qt"nquu" cpf"ctg"tgencuukhkgf"vq"vjg"rtqhkv"qt"nquu"wrqp"fkurqucn"qh"vjg"kpxguvogpv"qt" yjgp"vjg"korcktogpv"ku"eqphktogf0"

Vjg"fkxkfgpf"qh"cxckncdng/hqt/ucng"gswkv{"kpxguvogpvu"ku"tgeqipk|gf" yjgp"vjg"tkijv"vq"eqnngevkqp"qh"vjg"eqpuqnkfcvgf"eqorcp{"ku"guvcdnkujgf0"

Kh" vjg" cxckncdng/hqt/ucng" hkpcpekcn" cuugv" ku" cp" gswkv{" kpxguvogpv" ykvjqwv"c"octmgv"swqvg"kp"cp"cevkxg"octmgv"cpf"vjg"hckt"xcnwg"ecppqv"dg" tgnkcdn{" ogcuwtgf" cpf" vjg" fgtkxcvkxgu" vjcv" ctg" nkpmgf" vq" vjg" gswkv{" kpuvtwogpv"ykvjqwv"c"octmgv"swqvg"cpf"vjg"ugvvngogpv"owuv"dg"eqorngvgf" ykvj"vjg"gswkv{"kpuvtwogpv"fgnkxgtgf."kv"ku"ogcuwtgf"uwdugswgpvn{"cv"equv." pgv"qh"korcktogpv"nquu."cpf"kv"ku"kpfkxkfwcnn{"dqqmgf"as “Fkpcpekcn"cuugvu" ogcuwtgf" cv" cost.” Kh" uwej" hkpcpekcn" cuugvu" eqwnf" dg" uwdugswgpvn{"

43"

139

ogcuwtgf"cv"hckt" xcnwg."ogcuwtg" dcugf" qp"hckt" xcnwg"cpf" vjg" fkhhgtgpeg" dgvyggp"vjg"dqqm"xcnwg"cpf"vjg"hckt"xcnwg"ujcnn"dg"tgeqipk|gf"wpfgt"qvjgt" eqortgjgpukxg"kpeqog0"Kp"ecug"qh"korcktogpv."tgeqipk|g"cu"rtqhkv"qt"nquu0"

F0"Nqcpu"cpf"ceeqwpvu"tgegkxcdng"

Nqcpu"cpf"tgegkxcdngu"*kpenwfkpi"ceeqwpvu"tgegkxcdng."ecuj"cpf"ecuj" gswkxcngpvu." cpf" dqpf" kpxguvogpvu" ykvjqwv" cp" cevkxg" octmgv+" ctg" ogcuwtgf"cv"vjg"coqtvk|gf"equv"chvgt"fgfwevkpi"vjg"korcktogpv"nquugu"kp" ceeqtfcpeg"ykvj"vjg"ghhgevkxg"kpvgtguv"ogvjqf."gzegrv"hqt"vjg"kpvgtguv"qh" ujqtv/vgto"ceeqwpvu"tgegkxcdng"vjcv"ku"kpukipkhkecpv0"

Ecuj"gswkxcngpvu"ctg"vkog"fgrqukvu"ykvjkp"5"oqpvju"htqo"vjg"fcvg"qh" ceswkukvkqp."ykvj"jkij"nkswkfkv{."ecp"dg"eqpxgtvgf"kpvq"ecuj"ykvj"octikpcn" tkum"qp"vjg"ejcpig"kp"xcnwg."cpf"ctg"wugf"hqt"vjg"hwnhknnogpv"qh"ujqtv/vgto" eqookvogpv"kp"ecuj"ugvvngogpv0"

*4+" Korcktogpv"qh"hkpcpekcn"cuugvu"

Gzegrv"hqt"vjg"hkpcpekcn"cuugvu"ogcuwtgf"cv"hckt"xcnwg"vjtqwij"rtqhkv"qt" nquu."vjg" eqpuqnkfcvgf" eqorcp{" gzcokpgu" yjgvjgt"vjgtg" ku"cp" gxkfgpeg"qh" korcktogpv"qeewttkpi"qp"vjg"qvjgt"hkpcpekcn"cuugvu"cv"gcej"dcncpeg"ujggv"fcvg0" Yjgp"vjgtg"ku"qdlgevkxg"gxkfgpeg"qh"qpg"qt"oqtg"gxgpvu"qeewttkpi"chvgt"vjg" kpkvkcn"tgeqipkvkqp"qh"hkpcpekcn"cuugvu"ykvj"c"tguwnvkpi"nquu"vq"vjg"hwvwtg"ecuj" hnqy"qh"vjg"hkpcpekcn"cuugv."vjg"korcktogpv"qh"hkpcpekcn"cuugvu"jcf"cntgcf{" qeewttgf0"

Hqt" hkpcpekcn" cuugvu" ogcuwtgf" cv" vjg" coqtvk|gf" equv." uwej" cu" nqcpu." fkueqwpvu."gzejcpig"rwtejcugf"cpf"ceeqwpvu"tgegkxcdng."vjg"cuugvu"vjcv"ctg" kpfkxkfwcnn{" cuuguugf" ykvjqwv" cp{" korcktogpv" kfgpvkhkgf" ctg" eqnngevkxgn{" tgcuuguugf" hqt" korcktogpv0" Vjg" eqnngevkxg" qdlgevkxg" gxkfgpeg" qh" vjg" korcktogpv" qh" tgegkxcdngu" oc{" kpenwfg" the consolidated company’s gzrgtkgpeg"qh"eqnngevkqp."vjg"kpetgcug"kp"eqnngevkxg"fghgttgf"rc{ogpv"cpf"vjg" qdugtxcdng" ejcpigu" kp" pcvkqpcn" qt" nqecn" geqpqoke" eqpfkvkqpu" tgncvgf" vq" tgegkxcdngu"cttgctcigu0"Qdlgevkxg"gxkfgpeg"hqt"korcktogpv"oc{"kpenwfg<"

C0"Ukipkhkecpv"hkpcpekcn"fkhhkewnv{"qh"vjg"kuuwgt"qt"fgdvqtu<"

  • D0"Dtgcej" qh" eqpvtcev." uwej" cu." kpvgtguv" qt" rtkpekrcn" rc{ogpv" fgnc{u" qt" fghcwnvu="

  • E0"The possibility of debtor’s gpvgtkpi" dcpmtwrve{" qt" qvjgt" hkpcpekcn" tgqticpk|cvkqp"ku"itgcvn{"kpetgcugf="qt"

  • F0"Hkpcpekcn"fkhhkewnvkgu"oc{"ecwug"vjg"cevkxg"octmgv"hqt"hkpcpekcn"cuugv"vq" fkucrrgct0"

Hwtvjgtoqtg."ceeqtfkpi"vq"vjg" “Tgiwncvkqpu"Iqxgtpkpi"vjg"Rtqegfwtgu" hqt" Dcpmkpi" Kpuvkvwvkqpu" vq" Gxcnwcvg" Cuugvu" cpf" Fgcn” ykvj" Pqp/rgthqtokpi1Pqp/ceetwcn"Nqcpu."vjg"Dcpm"gxcnwcvgu"vjg"eqnngevcdknkv{"qh" loaned assets according to the borrower’s financial condition and the tgrc{ogpv"qh"rtkpekrcn"cpf"kpvgtguv"cpf"cnuq"dcugf"qp"vjg"gxcnwcvgf"xcnwg"qh" vjg"eqnncvgtcn"rtqxkfgf"hqt"urgekhke"etgfkv0"Ceeqtfkpi"vq"vjg"chqtgogpvkqpgf" tgswktgogpv."pqp/rgthqtokpi"nqcpu"ujcnn"dg"tgeqipk|gf"cu"cuugvu"wpfgt"vjg" ecvgiqtkgu" qh" nquu." fqwdvhwn." uwduvcpfctf." urgekcn" ogpvkqp." cpf" pqtocn" fgrgpfkpi"qp"vjg"eqnncvgtcnu"cpf"qxgtfwg"rgtkqf0"Ceeqtfkpin{."rtqxkukqp"hqt" nquu" cv" 322'." 72'." 32'." 4'" cpf" 3'" ujcnn" dg" tgeqipk|gf" cu" rgt" vjg" tgswktgogpv" qh" Hkpcpekcn" Uwrgtxkuqt{" Eqookuukqp" Ngvvgt" Ejkp/Mwcp/[kp/Hc/\k" Pq0" 32232228:520" Kh" vjg" rtqxkukqp" hqt" dcf" fgdvu" ceeqwpvgf" hqt" oqtg" vjcp" 3'" qh" vjg" vqvcn" ngpfkpi." vjg" rtqrqtvkqp" hqt" vjg"

44"

140

rtqxkukqp"hqt"dcf"fgdvu"hqt"tgcn"rtqrgtvkgu"ujcnn"pqv"hcnn"dgnqy"307'"rwtuwcpv" vq"Ngvvgt"Ejkp/Mwcpi/[kp/Mwq/\k"Pq0"3252254;6620"

Vjg"korcktogpv"coqwpv"qh"vjg"hkpcpekcn"cuugvu"ogcuwtgf"cv"coqtvk|gf" equv"ku"vjg"fkhhgtgpeg"dgvyggp"vjg"dqqm"xcnwg"qh"vjg"cuugvu"cpf"vjg"rtgugpv" xcnwg" qh" vjg" hwvwtg" ecuj" hnqyu" fkueqwpvgf" cv" the financial asset’u" qtkikpcn" ghhgevkxg"kpvgtguv"tcvg0"

Kh" vjg" hkpcpekcn" cuugvu" dgkpi" tgeqipk|gf" chvgt" vjg" coqtvk|cvkqp" qh" vjg" equv"ujqygf"c"fgetgcug"qh"vjg"coqwpv"qh"korcktogpv"kp"uwdugswgpv"rgtkqfu." cpf"vjg"fgetgcugf"coqwpv"qh"korcktogpv"ku"tgncvgf"vq"vjg"gxgpvu"chvgt"vjg" tgeqipkvkqp"hqt"korcktogpv."vjg"korcktogpv"uq"tgeqipk|gf"rtgxkqwun{"ujcnn" dg" fktgevn{" tgxgtugf" qt" xkc" vjg" cflwuvogpv" qh" rtqxkukqp" qh" ceeqwpvu" cpf" tgeqipk|gf"cu"rtqhkv"qt"nquu0"Jqygxgt."vjg"coqwpv"qh"uwej"tgxgtucn"ujcnn"pqv" gzeggf"vjg"equv"chvgt"coqtvk|cvkqp"dghqtg"vjg"tgeqipkvkqp"qh"korcktogpv"qp" vjg"fc{"qh"tgeqipkvkqp0"

Yjgp"vjg"hckt"xcnwg"qh"vjg"cxckncdng/hqt/ucng"gswkv{"kpxguvogpvu"dgnqy" equv" cpf" vjg" fgenkpg" ku" ukipkhkecpv" qt" rgtukuvgpv." kv" yknn" dg" fggogf" cu" cp" qdlgevkxg"gxkfgpeg"qh"korcktogpv0"

Yjgp"cxckncdng/hqt/ucng"hkpcpekcn"cuugv"ku"korcktgf."vjg"ewowncvkxg"nquu" rtgxkqwun{" tgeqipk|gf" kp" vjg" qvjgt" eqortgjgpukxg" rtqhkv" qt" nquu" yknn" dg" tgencuukhkgf"kpvq"rtqhkv"qt"nquu0"

Vjg"korcktogpv"nquu"qh"vjg"cxckncdng/hqt/ucng"gswkv{"kpuvtwogpvu"vjcv"ku" cntgcf{" tgeqipk|gf" kp" vjg" rtqhkv" qt" nquu" oc{" pqv" dg" tgxgtugf" vjtqwij" vjg" rtqhkv" qt" nquu0" Vjg" hckt" xcnwg" tgxgtugf" coqwpv" chvgt" tgeqipk|kpi" vjg" korcktogpv"nquugu"ku"tgeqipk|gf"kp"vjg"qvjgt"eqortgjgpukxg"rtqhkv"qt"nquu0"Kh" vjg" hckt" xcnwg" qh" vjg" cxckncdng/hqt/ucng" hkpcpekcn" cuugvu" kpetgcugf" kp" vjg" uwdugswgpv" rgtkqf" cpf" vjg" kpetgcug" ku" qdlgevkxgn{" nkpmgf" vq" cp" gxgpv" qeewttkpi"chvgt"vjg"korcktogpv"ku"tgeqipk|gf."vjg"korcktogpv"nquu"ku"tgxgtugf" cpf"tgeqipk|gf"kp"vjg"rtqhkv"qt"nquu0"

Hqt" vjg" qdlgevkxg" gxkfgpeg" qh" korcktogpv" qh" qvjgt" hkpcpekcn" cuugvu." rngcug"tghgt"vq"vjg"pqvg"qp"hkpcpekcn"cuugvu"dqqmgf"cv"vjg"coqtvk|gf"equv0"

Vjg"korcktogpv"coqwpv"qh"vjg"hkpcpekcn"cuugvu"ogcuwtgf"cv"equv"ku"vjg" fkhhgtgpeg"dgvyggp"vjg"dqqm"xcnwg"qh"vjg"cuugvu"cpf"vjg"rtgugpv"xcnwg"qh"vjg" hwvwtg"ecuj"hnqyu"fkueqwpvgf"cv" the financial asset’u"ewttgpv"octmgv"tcvg"qh" tgvwtp0"Vjg"uckf"korcktogpv"nquu"ujcnn"pqv"dg"tgxgtugf"kp"uwdugswgpv"rgtkqfu0"

Vjg"korcktogpv"nquu"qh"cnn"hkpcpekcn"cuugvu"ku"fktgevn{"fgfwevgf"htqo"vjg" dqqm"coqwpv"qh"vjg"hkpcpekcn"cuugv0"Jqygxgt."vjg"dqqm"xcnwg"qh"vjg"ceeqwpvu" tgegkxcdng"cpf"nqcpu"ku"cflwuvgf"fqyp"d{"vjg"cnnqycpeg"hqt"dcf"fgdv0"Vjg" ceeqwpvu" tgegkxcdng" cpf" nqcpu" vjcv" ctg" eqpenwfgf" vq" dg" wpeqnngevkdng" ctg" ytkvvgp"qhh"cickpuv"vjg"cnnqycpeg"ceeqwpv0"Vjg"coqwpv"rtgxkqwun{"ytkvvgp"qhh" cpf"eqnngevgf"uwdugswgpvn{"ku"etgfkvgf"vq"vjg"cnnqycpeg"ceeqwpv0"Ejcpigu"kp" vjg"dqqm"coqwpv"qh"vjg"cnnqycpeg"ceeqwpv"ctg"tgeqipk|gf"kp"vjg"rtqhkv"qt" nquu0"

  • *5+" Vjg"fg/tgeqipkvkqp"qh"hkpcpekcn cuugvu"

Vjg" eqpuqnkfcvgf" eqorcp{" jcu" hkpcpekcn" cuugvu" fg/tgeqipk|gf" qpn{" yjgp"vjg"eqpvtcevwcn"tkijvu"htqo"vjg"ecuj"hnqyu"qh"c"hkpcpekcn"cuugv"dgeqogu" kpxcnkf"qt"yjgp"vjg"hkpcpekcn"cuugvu"ctg"vtcpuhgttgf"cpf"cnoquv"cnn"vjg"tkumu" cpf" tgyctfu" qh" vjg" cuugv" qypgtujkr" jcxg" dggp" vtcpuhgttgf" vq" qvjgt" gpvgtrtkugu0"

45"

141

Yjgp"fg/tgeqipk|kpi"c"hkpcpekcn"cuugv."vjg"fkhhgtgpeg"dgvyggp"vjg"dqqm" coqwpv" cpf" vjg" eqpukfgtcvkqp" tgegkxgf" rnwu" cp{" ewowncvkxg" rtqhkv" qt" nquu" tgeqipk|gf" kp" vjg" qvjgt" eqortgjgpukxg" rtqhkv" qt" nquu" ku" tgeqipk|gf" kp" vjg" rtqhkv"qt"nquu0"

  • 40" Gswkv{"kpuvtwogpvu"

Vjg" fgdv" cpf" gswkv{" kpuvtwogpvu" kuuwgf" d{" vjg" eqpuqnkfcvgf" eqorcp{" ctg" encuukhkgf"cu"hkpcpekcn"nkcdknkvkgu"qt"gswkv{"rwtuwcpv"vq"vjg"eqpvtcevwcn"citggogpvu" cpf"vjg"fghkpkvkqp"qh"hkpcpekcn"nkcdknkvkgu"cpf"gswkv{"kpuvtwogpvu0"

Gswkv{"kpuvtwogpvu"kuuwgf"d{"vjg"eqpuqnkfcvgf"eqorcp{"ctg"tgeqipk|gf"hqt"cp" coqwpv"chvgt"fgfwevkpi"vjg"fktgev"kuuwkpi"equv"htqo"vjg"rtqeggfu"eqnngevgf0"

The Company’s equity" tgvtkgxgf" ku" fgdkvgf" qt" etgfkvgf" vq" vjg" gswkv{0" Vjg" Company’s equity purchased, sold."kuuwgf."qt"ecpegnngf"ku"pqv"tgeqipk|gf"kp"vjg" rtqhkv"qt"nquu0"

50" Hkpcpekcn"nkcdknkvkgu"

  • *3+" Uwdugswgpv"ogcuwtgogpv"

Cnn"hkpcpekcn"cuugvu"ujcnn"dg"ogcuwtgf"wpfgt"vjg"ghhgevkxg"kpvgtguv"tcvg" ogvjqf" qp" vjg" equv" chvgt" coqtvk|cvkqp" gzegrv" wpfgt" vjg" hqnnqykpi" ektewouvcpegu<"

C0"Hkpcpekcn"nkcdknkvkgu"cv"hckt"xcnwg"vjtqwij"rtqhkv"cpf"nquu"

Hkpcpekcn" nkcdknkvkgu" ogcuwtgf" cv" hckt" xcnwg" vjtqwij" rtqhkv" qt" nquu" kpenwfgu"jgnf/hqt/ucng"cpf"fgukipcvgf"hkpcpekcn"nkcdknkvkgu"ogcuwtgf"cv"hckt" xcnwg"vjtqwij"rtqhkv"qt"nquu0"

Hkpcpekcn"nkcdknkv{"ogcuwtgf"cv"hckt"xcnwg"vjtqwij"vjg"rtqhkv"qt"nquu"ku" ogcuwtgf"cv"hckt"xcnwg"cpf"vjg"rtqhkv"qt"nquu"igpgtcvgf"htqo"vjg"ugeqpfct{" ogcuwtgogpv"ku"tgeqipk|gf"cu"c"rtqhkv"qt"nquu0"Vjg"ickp"qt"nquu"tgeqipk|gf" kp"vjg"rtqhkv"qt"nquu"fqgu"pqv"kpenwfg"cp{"fkxkfgpfu"qt"kpvgtguv"rckf"hqt"vjg" hkpcpekcn" nkcdknkv{0" Rngcug" tghgt" vq" Pqvg" 59" hqt" vjg" fgvgtokpcvkqp" qh" hckt" xcnwg0"

Kh"vjg"hkpcpekcn"nkcdknkv{"ogcuwtgf"cv"hckt"xcnwg"vjtqwij"vjg"rtqhkv"qt" nquu" ku<" c+" vjg" ucng" qh" cp" gswkv{" yjqug" hckt" xcnwg" ecppqv" dg" tgnkcdn{" ogcuwtgf"cpf"jcu"pq"octmgv"swqvg."cpf"vjg"ugvvngogpv"qh"vjg"gswkv{"owuv" dg"eqorngvgf"ykvj"vjg"gswkv{"fgnkxgtgf="qt"d+"c"fgtkxcvkxg"nkcdknkv{"vjcv"ku" nkpmgf"vq"cp"gswkv{"vjcv"ecppqv"dg"tgnkcdn{"ogcuwtgf"cpf"jcu"pq"octmgv" swqvg."cpf"vjg"ugvvngogpv"qh"vjg"gswkv{"owuv"dg"eqorngvgf"ykvj"vjg"gswkv{" fgnkxgtgf." kv" ku" ogcuwtgf" cv" equv" qp" vjg" dcncpeg" ujggv" fcvg" cpf" kv" ku" kpfkxkfwcnn{" dqqmgf" as “Fkpcpekcn" cuugvu" ogcuwtgf" cv" cost.”" Kh" vjgug" hkpcpekcn"nkcdknkvkgu"ecp"uwdugswgpvn{"dg"tgnkcdn{"ogcuwtgf"cv"hckt"xcnwg."kv" ku" ogcuwtgf" cickp" cv" hckt" xcnwg" cpf" vjg" fkhhgtgpeg" dgvyggp" vjg" dqqm" coqwpv"cpf"vjg"hckt"xcnwg"ku"tgeqipk|gf"kp"vjg"rtqhkv"qt"nquu0"

D0"Hkpcpekcn"iwctcpvgg"eqpvtcev"

Vjg"hkpcpekcn"iwctcpvgg"eqpvtcevu"vjcv"ctg"pqv"ogcuwtgf"cv"hckt"xcnwg" vjtqwij"vjg"rtqhkv"qt"nquu"kuuwgf"d{"vjg"eqpuqnkfcvgf"Eqorcp{."chvgt"vjg" kpkvkcn" tgeqipkvkqp." ctg" ogcuwtgf" cv" equv" chvgt" coqtvk|cvkqp0" Kh" urgekhke" coqwpv"ujcnn"dg"rc{cdng"wpfgt"eqpvtcevwcn"qdnkicvkqp"wpfgt"cuuguuogpv." vjg" qrvkocn"guvkocvgf" coqwpv"cpf"vjg" coqwpv"chvgt" coqtvk|cvkqp" wpfgt" eqpvtcevwcn"qdnkicvkqp"ujcnn"dg"ogcuwtgf."yjkejgxgt"ku"jkijgt0"

  • *4+" Fg/tgeqipkvkqp"qh"hkpcpekcn"nkcdknkvkgu"

46"

142

Yjgp" fg/tgeqipk|kpi" hkpcpekcn" nkcdknkvkgu." vjg" fkhhgtgpeg" dgvyggp" vjg" dqqm"coqwpv"cpf"vjg"eqpukfgtcvkqp"rckf"*kpenwfkpi"cp{"vtcpuhgttgf"pqp/ecuj" cuugvu"qt"cuuwogf"nkcdknkvkgu+"ku"tgeqipk|gf"cu"rtqhkv"qt"nquu0"

60" Eqpxgtvkdng"eqtrqtcvg"dqpfu"

Eqpxgtvkdng" dqpfu" kuuwgf" d{" vjg" eqpuqnkfcvgf" eqorcp{" kpenwfg" dqvj" nkcdknkvkgu"cpf"eqpxgtvkdng"tkijvu"cpf"ctg"encuukhkgf"vq"vjg"tgurgevkxg"ecvgiqt{"cv"vjg" kpkvkcn"tgeqipkvkqp0"Eqpxgtvkdng"tkijvu"vjcv"ctg"pqv"wukpi"c"hkzgf"coqwpv"qh"ecuj"qt" qvjgt" hkpcpekcn" cuugvu" kp" gzejcpig" hqt" vjg" ugvvngogpv" qh" vjg" eqpuqnkfcvgf" company’s equity instruments ctg"encuukhkgf"cu"eqpxgtvkdng"tkijvu"fgtkxcvkxgu0"Vjg" nkcdknkv{"cpf"eqpxgtvkdng"tkijv"ku"tgeqipk|gf"cv"hckt"xcnwg"qp"vjg"fcvg"qh"kuuwcpeg0"

Kp"uwdugswgpv"rgtkqfu."vjg"nkcdknkv{"eqorqpgpv"qh"vjg"eqpxgtvkdng"dqpfu"wukpi" vjg" ghhgevkxg" kpvgtguv" ogvjqf" fgrctvogpv" ecttkgf" cv" coqtvk|gf" equv" Eqpxgtvkdng" tkijv"fgtkxcvkxg"ku"ogcuwtgf"cv"hckt"xcnwg"cpf"vjg"ejcpig"kp"hckt"xcnwg"ku"tgeqipk|gf" kp"vjg"rtqhkv"qt"nquu0"

Vtcpucevkqp" equv" cuuqekcvgf" ykvj" vjg" kuuwcpeg" qh" eqpxgtvkdng" dqpfu" ku" coqtvk|gf"vq"vjg"nkcdknkvkgu"cpf"eqpxgtvkdng"tkijvu"qh"vjg"kpuvtwogpv"rtqrqtvkqpcvgn{" vq"vjg"hckt"xcnwg0"Vtcpucevkqp"equv"cuuqekcvgf"ykvj"vjg"eqpxgtvkdng"tkijvu"fgtkxcvkxg" ku" tgeqipk|gf" fktgevn{" kp" vjg" rtqhkv" qt" nquu=" vtcpucevkqp" equv" cuuqekcvgf" ykvj" vjg" nkcdknkv{" yknn" dg" kpenwfgf" kp" vjg" dqqm" coqwpv" qh" vjg" nkcdknkv{" cpf" kv" yknn" dg" coqtvk|gf" qxgt" vjg" fwtcvkqp" qh" vjg" eqpxgtvkdng" dqpf" kp" ceeqtfcpeg" ykvj" vjg" ghhgevkxg"kpvgtguv"ogvjqf0"

70" Fgtkxcvkxgu"

Vjg" fgtkxcvkxg" kpuvtwogpvu" ukipgf" d{" vjg" eqpuqnkfcvgf" eqorcp{" kpenwfg" hqtyctf" hqtgkip" gzejcpig" eqpvtcevu." ewttgpe{" uycr" eqpvtcevu." cpf" eqpxgtvkdng" dqpf"cuugv"uycr"eqpvtcevu"vjcv"ctg"wugf"vq"ocpcig"vjg"kpvgtguv"tcvg"cpf"gzejcpig" tcvg"tkum"qh"vjg"eqpuqnkfcvgf"eqorcp{0"

Wrqp"ukipkpi"vjg"eqpvtcevu."fgtkxcvkxgu"ctg"tgeqipk|gf"cv"hckt"xcnwg"kpkvkcnn{" cpf"vjgp"uwdugswgpvn{"ogcuwtgf"cv"hckt"xcnwg"qp"vjg"dcncpeg"ujggv"fcvg0"Vjg"rtqhkv" qt"nquu"tguwnvkpi"htqo"vjg"uwdugswgpv"ogcuwtgogpv"ku"fktgevn{"dqqmgf"wpfgt"vjg" rtqhkv" qt" nquu0" Vjgp." vjg" vkokpi" qh" tgeqipk|kpi" vjg" fgukipcvgf" cpf" ghhgevkxg" jgfikpi"fgtkxcvkxgu"fgrgpfu"qp"vjg"pcvwtg"qh"vjg"jgfikpi"tgncvkqpujkr0"Yjgp"vjg" hckt"xcnwg"qh"vjg"fgtkxcvkxgu"ku"rqukvkxg."kv"ku"encuukhkgf"cu"c"hkpcpekcn"cuugv="yjgp" vjg"hckt"xcnwg"ku"pgicvkxg."kv"ku"encuukhkgf"cu"c"hkpcpekcn"nkcdknkv{0"

Vjg" tkum" cpf" hgcvwtgu" qh" cp" godgffgf" fgtkxcvkxg" kpuvtwogpv" cpf" vjg" ockp" eqpvtcev"ctg"pqv"enqugn{"tgncvgf"cpf"kh"vjg"ockp"eqpvtcev"ku"c"hkpcpekcn"cuugv"qt"c" hkpcpekcn"nkcdknkv{"ogcuwtgf"cv"hckt"xcnwg"vjtqwij"rtqhkv"qt"nquu."vjg"fgtkxcvkxgu"ctg" fggogf"cu"c"ugrctcvg"fgtkxcvkxg0"

*35+" Nkcdknkv{"tgugtxg"

Vjg" tgeqipk|gf" nkcdknkv{" tgugtxg" coqwpv" ku" ykvj" vjg" tkum" cpf" wpegtvckpv{" qh" vjg" qdnkicvkqp" eqpukfgtgf." cpf" kv" ku" vjg" qrvkowo" guvkocvg" qh" vjg" gzrgpfkvwtg" tgswktgf" vq" ugvvng" vjg" qdnkicvkqpu" qp" vjg" dcncpeg" ujggv" fcvg0" Rtqxkukqp" hqt" nkcdknkvkgu" ujcnn" dg" ogcuwtgf"dcugf"qp"vjg"fkueqwpv"xcnwg"qh"vjg"guvkocvgf"ecuj"hnqy"hqt"vjg"ugvvngogpv"qh" qdnkicvkqp0"

Kh"rctv"qt"cnn"qh"vjg"gzrgpfkvwtg"pggfgf"hqt"nkswkfcvkpi"nkcdknkv{"tgugtxg"ku"gzrgevgf" vq" dg" tgkodwtugf"d{"vjg"qvjgt"rctv{."yjgp"vjg" tgkodwtugogpv"ku" cnoquv"egtvckp"vq"dg" tgegkxgf"cpf"vjg"coqwpv"ecp"dg"tgnkcdn{"ogcuwtgf."vjg"tgkodwtugogpv"ku"tgeqipk|gf"cu" cp"cuugv0"

  • *36+" Tgeqipkvkqp"qh"tgxgpwg"

47"

143

Kpeqog"tghgtu" vq" vjg" vqvcn" geqpqoke" ghhgev" kphnqyu" fwg" vq" vjg" kpetgcug"qh" gswkv{" tguwnvkpi"htqo"pqtocn"qrgtcvkpi"cevkxkvkgu."dwv"fqgu"pqv"kpenwfg"vjg"kpetgcug"qh"gswkv{" tguwnvkpi" htqo" vjg" kprwv" qh" gswkv{" rctvkekrcpvu0" Vjg" ockp" kpeqog" qh" vjg" eqpuqnkfcvgf" eqorcp{<"

30" Kpvgtguv"tgxgpwg"

Hqt"vjg"kpvgtguv"kpeqog"htqo"hkpcpekcn"cuugvu."yjgp"vjg"geqpqoke"dgpghkvu"ctg" nkmgn{"vq"hnqy"kpvq"vjg"eqpuqnkfcvgf"eqorcp{"cpf"vjg"coqwpv"qh"tgxgpwgu"ecp"dg" ogcuwtgf" tgnkcdn{." cnn" kpvgtguv" kpeqog" igpgtcvgf" htqo" kpvgtguv/dgctkpi" hkpcpekcn" kpuvtwogpvu" ujqwnf" dg" tgeqipk|gf" qp" cp" ceetwcn" dcuku" kp" ceeqtfcpeg" ykvj" vjg" ghhgevkxg"kpvgtguv"tcvg0"

Hqt" c" ukping" qt" c" itqwr" qh" ukoknct" hkpcpekcn" cuugv" vjcv" ku" tgfwegf" fwg" vq" korcktogpv" nquugu." vjg" uwdugswgpvn{" tgeqipk|gf" kpvgtguv" kpeqog" ku" ecnewncvgf" kp" ceeqtfcpeg"ykvj" vjg"kpvgtguv" tcvg" vjcv" ku" wugf" hqt"vjg" fkueqwpvkpi"qh"hwvwtg"ecuj" hnqy"yjgp"ogcuwtkpi"vjg"korcktogpv"nquu0"

40" Ugtxkeg"hggu"cpf"eqookuukqp"kpeqog"

Ugtxkeg"hgg"kpeqog"cpf"gzrgpug"ctg"tgeqipk|gf"kp"c"nwor"uwo"yjgp"vjg"nqcp" qt"qvjgt"ugtxkeg"ku"rtqxkfgf0"Kh"vjg"ugtxkeg"hggu"ctg"gctpgf"hqt"eqorngvkpi"oclqt" rtqlgevu."vjg{"ctg"tgeqipk|gf"qp"vjg"eqorngvkqp"qh"vjg"oclqt"rtqlgevu."uwej"cu."vjg" u{pfkecvgf" nqcp" ugtxkeg" hgg" ejctigf" eqnngevgf" d{" vjg" qticpk|kpi" dcpm0" Kh" vjg" ugtxkeg" hggu" kpeqog" cpf" gzrgpugu" ctg" gctpgf" qt" rckf" hqt" vjg" uwdugswgpv" nqcp" ugtxkeg." vjg{" ctg" vq" dg" coqtvk|gf" qxgt" vjg" ugtxkeg" rgtkqf" fgrgpfkpi" qp" vjg" materiality, or included for the calculation of loans and receivables’ effective kpvgtguv"tcvg0"

50" Fkxkfgpf"kpeqog"

Fkxkfgpf" kpeqog" htqo" kpxguvogpvu" ku" tgeqipk|gf" yjgp" vjg" ujareholders’ tkijv"vq"tgegkxg"rc{ogpv"ku"guvcdnkujgf="jqygxgt."kv"ku"wpfgt"vjg"rtgeqpfkvkqpu"vjcv" vjg" geqpqoke" dgpghkvu" cuuqekcvgf" ykvj" vjg" vtcpucevkqp" u{uvgo" ctg" nkmgn{" vq" hnqy" kpvq" vjg" eqpuqnkfcvgf" eqorcp{" cpf" vjg" coqwpv" qh" tgxgpwgu" ecp" dg" ogcuwtgf" tgnkcdn{0"

*37+" Ngcug"

Yjgp"vjg"ngcug"vgto"ku"vq"jcxg"cnn"tkumu"cpf"tgvwtpu"cvvcejgf"vq"vjg"qypgtujkr"qh" cuugvu"vtcpuhgttgf"vq"vjg"nguugg."kv"ku"encuukhkgf"cu"c"hkpcpekpi"ngcug0"Cnn"qvjgt"ngcugu"ctg" encuukhkgf"cu"qrgtcvkpi"ngcugu0"

30" Vjg"eqpuqnkfcvgf"eqorcp{"ku"vjg"nguuqt0"

Wpfgt" c" hkpcpekcn" ngcug." vjg" coqwpv" vq" dg" eqnngevgf" htqo" vjg" nguugg" ku" tgeqipk|gf"cu"ngcug"tgegkxcdngu"kp"ceeqtfcpeg"ykvj"vjg"pgv"ngcug"kpxguvogpv"qh"vjg" eqpuqnkfcvgf"eqorcp{0"Hkpcpekcn"tgxgpwg"ku"coqtvk|gf"kpvq"gcej"ceeqwpvkpi"rgtkqf" vq" tghngev" vjg" eonsolidated company’s" hkzgf" tcvg" qh" tgvwtp" cxckncdng" hqt" gcej" tgurgevkxg"rgtkqf"htqo"vjg"qwvuvcpfkpi"pgv"ngcug"kpxguvogpv0

Cp"qrgtcvkpi"ngcug"tgpv"ku"tgeqipk|gf"cu"kpeqog"qp"c"uvtckijv/nkpg"dcuku"qxgt" vjg" ngcug" rgtkqf." wpnguu" cpqvjgt" u{uvgocvke" dcuku" ku" oqtg" tgrtgugpvcvkxg" qh" vjg" leased asset’s"ghhkekgpe{"kp"wug"cpf"vkog"eqpuworvkqp"rcvvgtp0"Vjg"qtkikpcn"fktgev" equv"ctkukpi"htqo"pgiqvkcvkpi"cpf"cttcpikpi"cp"qrgtcvkpi"ngcug"ku"kpenwfgf"kp"vjg" dqqm"xcnwg"qh"vjg"ngcugf"cuugv"cpf"kv"ku"tgeqipk|gf"cu"cp"gzrgpug"qp"c"uvtckijv/nkpg" dcuku" qxgt" vjg" ngcug" rgtkqf0" Wpfgt" cp" qrgtcvkpi" ngcug." vjg" eqpvkpigpv" tgpv" ku" tgeqipk|gf"cu"kpeqog"kp"vjg"ewttgpv"rgtkqf0

Ngcug" kpegpvkxgu" ikxgp" yjgp" ukipkpi" cp" qrgtcvkpi" ngcug" ctg" tgeqipk|gf" cu" cuugvu0" Vjg" vqvcn" kpegpvkxg" equv" ku" etgfkvgf" vq" vjg" tgpv" kpeqog" qp" c" uvtckijv/nkpg"

48"

144

dcuku."wpnguu"cpqvjgt"u{uvgocvke"dcuku"ku"oqtg"tgrtgugpvcvkxg"qh"the leased asset’s ghhkekgpe{"kp"wug"cpf"vkog"eqpuworvkqp"rcvvgtp0"

40" Vjg"eqpuqnkfcvgf"eqorcp{"ku"vjg"nguugg0

Cp"qrgtcvkpi"ngcug"rc{ogpv"ku"tgeqipk|gf"cu"cp"gzrgpug"qp"c"uvtckijv/nkpg" dcuku"qxgt"vjg"ngcug"rgtkqf."wpnguu"cpqvjgt"u{uvgocvke"dcuku"ku"oqtg"tgrtgugpvcvkxg" qh"the user’s"ghhkekgpe{"kp"wug"cpf"vkog"eqpuworvkqp"rcvvgtp0"Wpfgt"cp"qrgtcvkpi" ngcug."c"eqpvkpigpv"tgpv"ku"tgeqipk|gf"cu"cp"gzrgpug"kp"vjg"ewttgpv"rgtkqf0

Ngcug"kpegpvkxgu"ceswktgf"htqo"cp"qrgtcvkpi"ngcug"ctg"tgeqipk|gf"cu"nkcdknkv{0" Vjg"vqvcn"kpegpvkxg"gctpkpi"ku"etgfkvgf"vq"vjg"tgpv"gzrgpugu"qp"c"uvtckijv"nkpg"dcuku." wpnguu"cpqvjgt"u{uvgocvke"dcuku"ku"oqtg"tgrtgugpvcvkxg"qh"vjg"wugt’s"ghhkekgpe{"kp" wug"cpf"vkog"eqpuworvkqp"rcvvgtp0"

  • *38+" Gornq{gg"dgpghkvu"

30" Tgvktgogpv"dgpghkvu"

Wpfgt" vjg" fghkpgf" eqpvtkdwvkqp" rgpukqp" rncp." vjg" rgpukqp" coqwpv" crrtqrtkcvgf"fwtkpi"vjg"ugtxkeg"{gctu"qh"vjg"gornq{ggu"ku"tgeqipk|gf"cu"c"ewttgpv" gzrgpug0"

Vjg" fgvgtokpgf" equv" qh" dgpghkv" hqt" fgvgtokpgf" dgpghkv" tgvktgogpv" rncp" kpenwfkpi" vjg" equv" qh" ugtxkeg." pgv" kpvgtguv." cpf" tggxcnwcvkqp+" ku" dcugf" qp" vjg" cevwct{" qh" rtqlgevgf" wpkv" ogvjqf0" Equv" qh" ugtxkeg" cpf" pgv" fgvgtokpgf" dgpghkv" nkcdknkv{"kpvgtguv"ujcnn"dg"tgeqipk|gf"cu"gornq{gg"dgpghkv"gzrgpug"cv"vjg"vkog"qh" tgcnk|cvkqp0" Tggxcnwcvkqp" kpenwfkpi" cevwctkcn" rtqhkv" cpf" nquu." ejcpig" kp" vjg" kphnwgpeg"qh"wrrgt"nkokv"qh"cuugvu."cpf"rtqlgevgf"TQC"pgv"qh"crrnkecdng"kpvgtguv+" ujcnn"dg"tgeqipk|gf"cu"qvjgt"eqortgjgpukxg"kpeqog"cpf"uvcvgf"cu"tgvckpgf"gctpkpiu" cv" vjg" vkog" qh" tgcnk|cvkqp." cpf" yknn" pqv" dg" tgencuukhkgf" cu" kpeqog" kp" uwdugswgpv" rgtkqfu0"

Pgv" fgvgtokpgf" dgpghkv" nkcdknkv{" ku" vjg" coqwpv" ujqtv" kp" crrtqrtkcvkqp" qh" fgvgtokpgf"dgpghkv"tgvktgogpv"rncp0"Pgv"fgvgtokpgf"dgpghkv"cuugv"ujcnn"pqv"gzeggf" vjg"tghwpf"qh"vjg"crrtqrtkcvgf"hwpf"qt"fgetgcug"vjg"rtgugpv"xcnwg"qh"crrtqrtkcvkqp" qh"hwpf"kp"vjg"hwvwtg0"

40" Gornq{ggu"rtghgtgpvkcn"fgrqukv"dgpghkv"

Vjg" eqorcpkgu" qh" vjg" eqpuqnkfcvgf" hkpcpekcn" uvcvgogpvu" rtqxkfg" rtghgttgf" fgrqukv" hqt" vjg" gornq{ggu." kpenwfkpi" vjg" qhhgtkpi" qh" hkzgf" coqwpv" rtghgttgf" fgrqukv" cv" urgekcn" tcvg" hqt" vjg" gornq{ggu" ewttgpvn{" kp" gornq{ogpv" cpf" hqt" vjg" rc{ogpv"vq"vjg"tgvktgf"gornq{ggu"cpf"ewttgpv"gornq{ggu"cv"vjgkt"tgvktgogpv0"Vjg" fkhhgtgpeg"dgvyggp"vjg"kpvgtguv"tcvg"hqt"vjg"chqtgogpvkqpgf"rtghgttgf"fgrqukvu"cpf" octmgv"tcvg"ujcnn"hcnn"ykvjkp"vjg"ueqrg"qh"gornq{gg"ygnhctg0"

According to the “Criteria for the Compilation of Financial Statements by Public Banks”, the interest from the preferred deposit for employees prgcttcpigf" chvgt"tgvktgogpv"kp"gzeguu"qh"vjg"kpvgtguv"wpfgt"tgiwnct"octmgv"tcvg"ujcnn"dg"uwdlgev" vq"cevwctkcn"ecnewncvkqp"cv"vjg"vkog"qh"vjg"tgvktgogpv"qh"vjg"gornq{ggu"rwtuwcpv"vq" IAS 19, “Employee Benefits” as recognized by FSC. However, the parameters fot" vjg"cuuworvkqpu"kp"vjg"cevwctkcn"ecnewncvkqp"oc{"dg"tgiwncvgf"d{"vjg"eqorgvgpv" cwvjqtkv{."eqorn{"ceeqtfkpin{."kh"crrnkecdng0"

  • 50" Qvjgt"nqpi/vgto"gornq{gg"dgpghkvu"

Vjg"ceeqwpvkpi"rtqeguu"qh"vjg"qvjgt"nqpi/vgto"gornq{gg"dgpghkvu"ku"ucog"cu" vjg" ceeqwpvkpi" rtqeguu" qh" tgvktgogpv" kpvgtguvu0" Jqygxgt." vjg" tgngxcpv" cevwctkcn" ickpu"cpf"nquugu"cpf"rtkqt"rgtkqf"ugtxkeg"equv"ctg"tgeqipk|gf"koogfkcvgn{"kp"vjg" rtqhkv"qt"nquu0"

49"

145

*39+" Kpeqog"vcz"

Kpeqog"vcz"gzrgpug"ku"vjg"uwo"qh"vjg"ewttgpv"kpeqog"vcz"cpf"fghgttgf"kpeqog"vcz0"

  • 30" Kpeqog"vcz"gzrgpugu"kp"vjg"ewttgpv"rgtkqf"

Vjg"32'"cffkvkqpcn"kpeqog"vcz"ngxkgf"qp"Ceewowncvgf"gctpkpiu"ecnewncvgf" ceeqtfkpi"vq"vjg"Kpeqog"Vcz"Ncy"ku"uvcvgf"cu"kpeqog"vcz"gzrgpugu"kp"vjg"{gct"qh" the resolution made by the shareholders’ meeting.

Vjg" cflwuvogpv" vq" rtkqt" rgtkqf" kpeqog" vcz" rc{cdng" ku" dqqmgf" cu" ewttgpv" kpeqog"vcz0"

40" Fghgttgf"vcz"

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  • *3:+" Gornq{gg"uvqem"qrvkqp"

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  • *3+" Vjg"eqpuqnkfcvgf"eqorcp{"hkpcpekcn"fgtkxcvkxg"eqpvtcev"tgncvgf"vq"c"hqtgkip"gzejcpig" tcvg"ku"c"pqp/vtcfkpi"qrgtcvkqp"rgthqtogf"hqt"vjg"rwtrqug"qh"rtqxkfkpi"ewuvqogtu"ykvj"c" jgfikpi"vqqn"hqt"vjg"hqtgkip"gzejcpig"rqukvkqp"igpgtcvgf"htqo"korqtv1gzrqtv"cpf"hqtgkip" gzejcpig"cpf"jgfikpi"vjg"tkum"htqo"dwukpguu"cpf"oggvkpi"vjg"pggf"hqt"hqtgkip"gzejcpig" hwpfu0"

54"

150

  • *4+" Vjg"hqtgkip"gzejcpig"eqpvtcevu"yjkej"jcxg"pqv"{gv"ocvwtgf"dghqtg"Fgegodgt"53."4237" cpf"4236"ctg"urgekhkgf"cu"hqnnqyu<"
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4238123126/4238134124		 EP[
32.357
423712312:
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4237123134/4237124124
LR[ 3.493.355
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4237123128
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83.63;
4238123127/4238128135		 WUF
96.222
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479.:55
4238123126/4238134124
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  • *6+" Cu"qh"Fgegodgt"53."4237"cpf"4236."vjg"eqpuqnkfcvgf"Eqorcp{"wpfgtvqqm"cuugvu"uycr" eqpvtcevu"coqwpvkpi"vq"PVF"6;;.222"vjqwucpf"cpf"PVF"6;6.322"vjqwucpf"tgurgevkxgn{." cv"kpvgtguv"tcpig"qh"3052'Å3092'"cpf"3022'Å3082'0"

  • 7+" Vjg" hqtgkip" ewttgpe{" qrvkqp" eqpvtcevu" wpfgtytkvvgp" d{" vjg" eqpuqnkfcvgf" Eqorcp{" coqwpvgf"vq"PVF"454.473"vjqwucpf"WUF"9.296"vjqwucpf+"cpf"PVF"342.639"vjqwucpf" *WUF"5.:29"vjqwucpf+"cu"qh"Fgegodgt"53."4237"cpf"4236."tgurgevkxgn{0"

55"

151

;0" Dqpfu"cpf"ugewtkvkgu"uqnf"wpfgt"tgrwtejcug"citggogpvu

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320" Tgegkxcdng."pgv"

citggfygtgPVF8.;;6.984vjqwucpfcpfPVF3.767.7:4vjqwucpf.tgurgevkxgn{0
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Fgegodgt53.4237
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Kvgo Kvgo Vqvcntgegkxcdngu Cnnqycpeghqt
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4237		 Fgegodgt53.
4237		 Fgegodgt53.
4236		 Fgegodgt53.
4236
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64.229		 &
6.599		 &
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56"

152

32232228:52" cu" qh" Fgegodgt" 53." 4237" cpf" 4236." ykvj" vjg" cffkvkqpcn" coqwpv" qh" tgeqipkvkqp"d{"PVF69.3:6"vjqwucpf"cpf"PVF45.278"vjqwucpf."tgurgevkxgn{0" "

  • *4+" Rngcug"tghgt"vq"Pqvg"57"hqt"vjg"pqvgu"tgegkxcdng"wugf"cu"eqnncvgtcn"qh"kpvgtdcpm"hkpcpekpi0"

330" Fkueqwpvu"cpf"nqcpu."pgv

Fkueqwpvucpfnqcpu.pgv Fkueqwpvucpfnqcpu.pgv Fkueqwpvucpfnqcpu.pgv Fkueqwpvucpfnqcpu.pgv
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Fgegodgt53.4236
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98:.633

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57.945.687

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63.3:;.68:

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4237		 Fgegodgt53.
4237		 Fgegodgt53.
4236		 Fgegodgt53.
4236
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57"

153

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  • *6+" Fgvcknu"cpf"ejcpigu"qh"cnnqycpeg"hqt"dcf"fgdvu"hqt"tgegkxcdngu"cpf"fkueqwpvu"cpf"nqcpu" hqt"4237"cpf"4236"ctg"uwooctk|gf"cu"hqnnqyu<"
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58"

154

340" Cxckncdng/hqt/Ucng"Hkpcpekcn"Cuugvu"

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  • *5+" Vjg"eqpuqnkfcvgf"Eqorcp{"jcf"tgeqipk|gf"cp"cuugv"korcktogpv"tgxgtucn"ickp"qh"PVF"2" vjqwucpf"cpf"PVF";:4.;45"vjqwucpf"hqt"vjg"hqtgkip"dqpfu"cuuguugf"kp"4237"cpf"4236." tgurgevkxgn{0"

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|---|---|---|
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  • *5+" Fgvcknu"qh"qvjgt"fgnkpswgpv"ceeqwpvu."pgv"ctg"uwooctk|gf"cu"hqnnqyu<"

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Dcncpeg.
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korcktogpv








Dcncpeg.
dgikppkpi

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&3.788.;27
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  • *3+" Vjg"vkog"fgrqukvu"cpf"iqxgtpogpv"dqpfu"jgnf"vq"ocvwtkv{"fgrqukvgf"d{"vjg"eqpuqnkfcvgf" eqorcp{"cu"vjg"ugewtkv{"dqpf"hqt"rtqxkukqpcn"ugk|wtg"cv"eqwtv"cpf"hqt"dwukpguu"iwctcpvgg" qp"Fgegodgt"53."4237"cpf"4236"ygtg"PVF"3.275.422"vjqwucpf"cpf"PVF"3.359.222" vjqwucpf."yjkej"ctg"uvcvgf"cu"tghwpfcdng"fgrqukvu0"Rngcug"tghgt"vq"Pqvg"57"hqt"fgvcknu0"

  • *4+" Vjg" dwukpguu" eqodkpcvkqp" jcu" fkurqugf" cnn" vjg" ceegrvgf" eqnncvgtcnu" vjcv" jcxg" dggp" tgeqipk|gf"hqt"korcktogpv0"Vjg"ecwug"qh"korcktogpv"ku"gnkokpcvgf"cpf"tgxgtucn"ickp"qh" tgeqipkvkqp"hqt"korcktogpv"coqwpvgf"vq"PVF"4.465"vjqwucpf"kp"42360"

420" Fwg"vq"Egpvtcn"Dcpm"cpf"qvjgt"dcpmu"

Fgegodgt53.4237
Fgegodgt53.4236
Ecnnnqcpuvqdcpmu
& 5.222.222
& ;.874.33:
FwgvqEjwpijycRquvEq0.Nvf0

:85.676

3.267.243
Fgrqukvuqhqvjgtdcpmu

872

46:
& 5.:86.326
&32.8;9.5:9

430" Hwpfu"dqttqygf"htqo"Egpvtcn"Dcpm"cpf"qvjgt"dcpmu

FwgvqEjwpijycRquvEq0.Nvf0

:85.676

3.267.243
Fgrqukvuqhqvjgtdcpmu

872

46:
& 5.:86.326
&32.8;9.5:9
HwpfudqttqygfhtqoEgpvtcnDcpmcpfqvjgtdcpmu		 FwgvqEjwpijycRquvEq0.Nvf0

:85.676

3.267.243
Fgrqukvuqhqvjgtdcpmu

872

46:
& 5.:86.326
&32.8;9.5:9
HwpfudqttqygfhtqoEgpvtcnDcpmcpfqvjgtdcpmu
Fgegodgt53.4237
Fgegodgt53.4236
Hwpfudqttqygfhtqodcpmu &5.354.676
&5.6;;.;82
Kpvgtdcpmhkpcpekpitcvg*'+ 3092Å5032
3085Å4096

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Fgegodgt53.4237 Fgegodgt53.4236
Qxgtugcudqpf &
/
&495.795
Iqxgtpogpvdqpfu 495.534

/
&495.534
&495.795

64"

160

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450 Fgegodgt53.4237
Fgegodgt53.4236
Qxgtugcudqpf
&
/
&495.:;:
Iqxgtpogpvdqpfu
495.6:6

/
&495.6:6
&495.:;:
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/
2092'
Iqxgtpogpvdqpfu
205:'
/
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Fgegodgt53.4237
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WUF
&
/
& :.86:
Rc{cdngu
Fgegodgt53.4237
Fgegodgt53.4236
Pqvgucpfejgemukpengctkpi
&3.847.5;3
&5.3:9.7:9
Rc{cdngurqvgzejcpigugvvngogpv
rc{ogpv
87;.5;7
3.2:3.:67
Ceegrvcpegurc{cdng
546.445
982.9::
Kpvgtguvrc{cdng
549.369
587.96;
Ceetwgfgzrgpugu
3.375.;63
;93.3;5
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374.696
79.3::
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*Pqvg58+
6.5;4
6.847
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45;.:56
4;;.552
Qvjgtrc{cdngu

8;6.64;

857.576
&7.3:3.448
&9.585.87;		 Fgegodgt53.4236

460" Ewuvqogt"fgrqukvu"cpf"tgokvvcpegu

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45;.:56
4;;.552
Qvjgtrc{cdngu

8;6.64;

857.576
&7.3:3.448
&9.585.87;
Ewuvqogtfgrqukvucpftgokvvcpegu		 Tgegkxcdngceeqwpvuhqtugvvngogpv
45;.:56
4;;.552
Qvjgtrc{cdngu

8;6.64;

857.576
&7.3:3.448
&9.585.87;
Ewuvqogtfgrqukvucpftgokvvcpegu
Fgegodgt53.4237
Fgegodgt53.4236
Ejgemfgrqukvu &
8.925.839
&
8.;65.98:
Ewttgpvfgrqukvu 357.::6.478
332.;4:.782
Ewttgpvucxkpifgrqukvu 332.63:.794
325.55:.884
Vkogfgrqukvu 334.673.6;6
322.;74.253
Vkogucxkpifgrqukvu 35;.58;.529
355.:24.:6:
Tgokvvcpegu
58.955

477
&726.:85.;9;
&677.;88.346

65"

161

470" Hkpcpekcn"dqpfu"rc{cdng"

Fgegodgt"53."4237" Fgegodgt"53."4236" Uwdqtfkpcvg"hkpcpekcn"dqpfu" &"37.;22.222" &"36.622.222"

  • *3+" Uwdqtfkpcvg"hkpcpekcn"dqpfu"

  • 30" As approved by FSC’s Letter under Jin/Iwcp/[kp"*6+"\k"Pq0"2;:22326272"fcvgf" Octej" 42." 422;." vjg" Vckejwpi" Dcpm" kuuwgf" 3[uv] " vgto" vq" 6[vj] " vtcpejg" uwdqtfkpcvg" hkpcpekcn"dqpfu"hqt"422;"qp"Lwpg"48."Fgegodgt"32."Fgegodgt"3:."cpf"Fgegodgt" 52." 422;" cpf" 3[uv] " vgto" vq" 4[pf] " vtcpejg" uwdqtfkpcvg" hkpcpekcn" dqpfu" hqt" 4232" qp" Lcpwct{"4:"cpf"Hgdtwct{";."4232"wrqp"vjg"hqnnqykpi"vgtou"cpf"eqpfkvkqpu<"

    • *3+" Crrtqxgf<"PVF"7.222.222"vjqwucpf0"

    • *4+" Kuuwgf<"

      • C0"3[uv] "vgto"422;<"3.:22.222"vjqwucpf0"

      • D0"4[pf] "vgto"422;<"322.222"vjqwucpf0"

      • E0"5[tf] "vgto"422;<"3.422.222"vjqwucpf0"

      • F0"6[vj] "vgto"422;<"3.322.222"vjqwucpf0"

      • G0"3[uv] "vgto"4232<"822.222"vjqwucpf0"

      • H0" 4[pf] "vgto"4232<"422.222"vjqwucpf0"

    • *5+" Dqqm"xcnwg<"

      • C0"3[uv"] vgto"422;<"PVF"322"vjqwucpf."kuuwgf"cv"rct"xcnwg0"

      • D0"4[pf"] vgto"422;<"PVF"722"vjqwucpf."kuuwgf"cv"rct"xcnwg0"

      • E0"5[tf"] vgto"422;<"PVF"722"vjqwucpf."kuuwgf"cv"rct"xcnwg0"

      • F06[vj"] vgto"422;<"PVF"722"vjqwucpf."kuuwgf"cv"rct"xcnwg0"

      • G0"3[uv"] vgto"4232<"PVF"722"vjqwucpf."kuuwgf"cv"rct"xcnwg0"

      • H0" 4[pf"] vgto"4232<"PVF"32.222"vjqwucpf."kuuwgf"cv"rct"xcnwg0"

    • *6+" Fwtcvkqp<"

      • C0"3[uv] "vgto"422;<"9"{gctu."ocvwtgf"qp"Lwpg"48."42380"

      • D0"4[pf] "vgto"422;<"9"{gctu."ocvwtgf"qp"Fgegodgt"32."42380"

      • E0"5[tf] "vgto"422;<"9"{gctu."ocvwtgf"qp"Fgegodgt"3:."42380"

      • F0"6[vj] "vgto"422;<"807"{gctu."ocvwtgf"qp"Lwpg"52."42380"

      • G0"3[uv] "vgto"4232<"9"{gctu."ocvwtgf"qp"Lcpwct{"4:."42390"

      • H0" 4[pf] "vgto"4232<"8"{gctu."ocvwtgf"qp"Hgdtwct{";."42380"

    • *7+" Dqpf"kpvgtguv"tcvg<"

      • C0"3[uv"] vgto"422;<"vjg"fkurnc{gf"hnqcvkpi"tcvgu"hqt"qpg/{gct"vgto"fgrqukvu"qh" Ejwpijwc"Rquv"Eq0."Nvf0"rnwu"3062'0"

      • D0"4[pf] vgto"422;<"vjg"hkzgf"cppwcn"tcvg"qh"4097'0"

      • E0"5[tf"] vgto"422;<"vjg"fkurnc{gf"hnqcvkpi"tcvgu"hqt"qpg/{gct"vgto"fgrqukvu"qh" Ejwpijwc"Rquv"Eq0."Nvf0"rnwu"3072'0"

      • F0"6[vj"] vgto"422;<"vjg"fkurnc{gf"hnqcvkpi"tcvgu"hqt"qpg/{gct"vgto"fgrqukvu"qh" Ejwpijwc"Rquv"Eq0."Nvf0"rnwu"306:'0"

66"

162 

  - G0"3[uv"] vgto"4232<"vjg"fkurnc{gf"hnqcvkpi"tcvgu"hqt"qpg/{gct"vgto"fgrqukvu"qh" Ejwpijwc"Rquv"Eq0."Nvf0"rnwu"3072'0"

  - H0" 4[pf"] vgto"4232<"vjg"fkurnc{gf"hnqcvkpi"tcvgu"hqt"qpg/{gct"vgto"fgrqukvu"qh" Ejwpijwc"Rquv"Eq0."Nvf0"rnwu"3072'0"

  • *8+" Tgrc{ogpv"Ogvjqfu<"tgrc{ogpv"kp"nwor"uwo"wrqp"ocvwtkv{0"

  • *9+" Rc{ogpv"qh"kpvgtguv<"kpvgtguv"rckf"rgt"ukz"oqpvju"cu"qh"vjg"fcvg"qh"kuuwcpeg0"

  • 40" Cu" crrtqved by FSC’s Letter under Jin/Iwcp/[kp/Rkcq/\k" Pq0" 2;;22426452" fcvgf"Lwpg"6."4232."vjg"Vckejwpi"Dcpm"kuuwgf"5[tf] "vtcpejg"uwdqtfkpcvg"hkpcpekcn" dqpfu"hqt"4232"qp"Lwpg"47"."4232"wrqp"vjg"hqnnqykpi"vgtou"cpf"eqpfkvkqpu<"

  • *3+" Crrtqxgf<"PVF";22.222"vjqwucpf0"

  • *4+" Kuuwgf<"PVF";22.222"vjqwucpf0"

  • *5+" Fgpqokpcvkqp<"PVF"32.222"vjqwucpf."kuuwgf"cv"rct"xcnwg0"

  • *6+" Fwtcvkqp<"9"{gctu."ocvwtgf"qp"Lwpg"47."42390"

  • *7+" Dqpf"kpvgtguv"tcvg"ku"vjg"fkurnc{gf"hnqcvkpi"tcvgu"hqt"qpg/{gct"vgto"fgrqukvu" qh"Ejwpijwc"Rquv"Eq0."Nvf0"rnwu"3097'0"

  • *8+" Tgrc{ogpv"Ogvjqfu<"tgrc{ogpv"kp"nwor"uwo"wrqp"ocvwtkv{0"

  • *9+" Rc{ogpv"qh"kpvgtguv<"kpvgtguv"rckf"rgt"ukz"oqpvju"cu"qh"vjg"fcvg"qh"kuuwcpeg0"

  • 50" As approved by FSC’s Letter under Jin/Iwcp/[kp/Rkcq/\k" Pq0" 32322527;22" fcvgf" Ugrvgodgt" 46." 4234." vjg" Vckejwpi" Dcpm" kuuwgf" 3uv" vtcpejg" uwdqtfkpcvg" hkpcpekcn"dqpfu"hqt"4234"qp" Pqxgodgt"35."4234"wrqp"vjg"hqnnqykpi"vgtou"cpf" eqpfkvkqpu<"

  • *3+" Crrtqxgf<"PVF"5.222.222"vjqwucpf0"

  • *4+" Kuuwgf<"PVF"5.222.222"vjqwucpf0"

  • *5+" Fgpqokpcvkqp<"PVF"3.222"vjqwucpf."kuuwgf"cv"rct"xcnwg0"

  • *6+" Fwtcvkqp<"9"{gctu."ocvwtgf"qp"Pqxgodgt"35."423;0"

  • *7+" Eqwrqp"tcvg<"Hkzgf"cppwcn"kpvgtguv"tcvg"403'0"

  • *8+" Tgrc{ogpv"Ogvjqfu<"tgrc{ogpv"kp"nwor"uwo"wrqp"ocvwtkv{0"

  • *9+" Rc{ogpv"qh"kpvgtguv<"kpvgtguv"rckf"rgt"ukz"oqpvju"cu"qh"vjg"fcvg"qh"kuuwcpeg0"

  • 60" Cu" crproved by FSC’s Letter under Jin/Iwcp/[kp/Rkcq/\k" Pq0" 324222:;552" fcvgf" Crtkn" :." 4235." vjg" Vckejwpi" Dcpm" kuuwgf" 3uv" vtcpejg" cpf" 4pf" vtcpejg" uwdqtfkpcvg"hkpcpekcn"dqpfu"hqt"4235"qp"Lwpg"47"cpf"Fgegodgt"38."4235"wrqp"vjg" hqnnqykpi"vgtou"cpf"eqpfkvkqpu<"

  • *3+" Crrtqxgf<"PVF"8.222.222"vjqwucpf0"

  • *4+" Kuuwgf<"

    • C0"3[uv] "vgto"4235<"4.722.222"vjqwucpf0"

    • D0"4[pf] "vgto"4235<"5.222.222"vjqwucpf0"

  • *5+" Dqqm"xcnwg<"

    • C0"3[uv"] vgto"4235<"PVF"722"vjqwucpf."kuuwgf"cv"rct"xcnwg0"

    • D0"4[pf"] vgto"4235<"PVF"722"vjqwucpf."kuuwgf"cv"rct"xcnwg0"

  • *6+" Fwtcvkqp<"

    • C0"3[uv] "vgto"4235<"9"{gctu."ocvwtgf"qp"Lwpg"47."42420"

67"

163 

     - D0"4[pf] "vgto"4235<"8"{gctu."ocvwtgf"qp"Fgegodgt"38."423;0"

  - *7+" Dqpf"kpvgtguv"tcvg<"

     - C0"3[uv"] vgto"4235<"vjg"hkzgf"cppwcn"tcvg"qh"403'0"

     - D0"4[pf"] vgto"4235<"vjg"hkzgf"cppwcn"tcvg"qh"403'0"

  - *8+" Tgrc{ogpv"Ogvjqfu<"tgrc{ogpv"kp"nwor"uwo"wrqp"ocvwtkv{0"

  - *9+" Rc{ogpv"qh"kpvgtguv<"kpvgtguv"rckf"rgt"ukz"oqpvju"cu"qh"vjg"fcvg"qh"kuuwcpeg0"

  • 70" Vjg" eqorcp{" jcu" dggp" crrtqxgf" d{" Hkpcpekcn" Uwrgtxkuqt{" Eqookuukqp" wpfgt" Ngvvgt" Ejkp/Mwcp/[kp/Rkcq/\k" Pq0" 32622422682" fcvgf" Cwiwuv" 48" 4237" hqt" vjg" kuuwcpeg"qh"pq"ocvwtkv{"pqp/ewowncvkxg"uwdqtfkpcvgf"hkpcpekcn"fgdgpvwtgu"Kuuwg"3[uv] hqt"4237"qp"Fgegodgt"4:"42370"Vjg"vgtou"cpf"eqpfkvkqpu"hqt"kuuwcpeg"ctg"ujqyp" dgnqy<"

    • *3+" Crrtqxgf<"PVF"3.722.222"vjqwucpf0"

    • *4+" Kuuwgf<"PVF"3.722.222"vjqwucpf0"

    • *5+" Fgpqokpcvkqp<"PVF"32.222"vjqwucpf."kuuwgf"cv"rct"xcnwg0"

    • *6+" Ocvwtkv{<"pq"ocvwtkv{"fcvg"

    • *7+" Eqwrqp"tcvg<"604:'"hnqcvkpi"rgt"cppwo"

    • *8+" Rtkpekrcn" tgvktgogpv<" gzgewvgf" kp" ceeqtfcpeg" ykvj" vjg" tgiwncvkqpu" qh" kuuwcpeg"

    • *9+" Kpvgtguv"rc{ogpv<"qpeg"cppwcnn{"htqo"vjg"kuuwkpi"fcvg"

  • *4+" Eqpxgtvkdng"hkpcpekcn"dqpfu"

  • 30" As approved by FSC’s Letter under Jin/Iwcp/\jgpi/Hc/\k"Pq0"322223:4;8"fcvgf" Oc{" 38." 4233." vjg" Vckejwpi" Dcpm" kuuwgf" hktuv" wpugewtgf" eqpxgtvkdng" hkpcpekcn" dqpfu"qh"PVF"4.522.222"vjqwucpf"ykvj"vjg"eqwrqp"tcvg"qh"2'"qp"Lwpg"37."42330" Kp" ceeqtfcpeg" ykvj" UHCU" Pq05;." vjg" eqpxgtvkdng" tkijvu" cpf" nkcdknkvkgu" ygtg" ugrctcvgn{"tgeqipk|gf"cu"gswkv{"cpf"nkcdknkvkgu0"Vjg"eqorqpgpvu"qh"nkcdknkvkgu"ctg" tgeqipk|gf"cu"godgffgf"fgtkxcvkxgu"cpf"pqp/fgtkxcvkxg"nkcdknkvkgu0"Vjg"godgffgf" fgtkxcvkxg"ycu"ocvwtgf"qp"Lwpg" 37"4235"qh" yjkej" vjg" coqwpv"qh" PVF386.422" vjqwucpf" ygtg" tgfggogf" cv" ocvwtkv{0" Vjg" Dcpm" tgeqipk|gf" ecrkvcn" nquu" hqt" tgfgorvkqp" qh" dqpfu" coqwpvgf" vq" PVF9.6;7" vjqwucpf." cpf" icxg" wr" vjg" tgfgorvkqp" tkijv" hqt" vjg" tgockpfgt" qh" vjg" kpuvtwogpv0" Qp" vjg" ocvwtkv{" fcvg." PVF4.2:7.;22" vjqwucpf" yqtvj" qh" dqpfu" kp" dqqm" xcnwg" ygtg" eqpxgtvgf" kpvq" 428.94;" vjqwucpf" ujctgu" qh" eqooqp" uvqem0" Vjg" tgockpfgt" qh" PVF6;.;22" vjqwucpf"ygtg"tgfggogf"cv"ocvwtkv{"qp"Lwpg"37"42360"

  • 40" Kuuwcpeg" vgtou" for the Taichung Bank’s first domestic unsecured convertible hkpcpekcn"dqpfu"ctg"uwooctk|gf"cu"hqnnqyu<"

    • *3+" Crrtqxgf<"PVF"4.:22.222"vjqwucpf0"

    • *4+" Kuuwgf<"PVF4.522.222"vjqwucpf0"

    • *5+" Fgpqokpcvkqp<"PVF322"vjqwucpf."kuuwgf"cv"rct"xcnwg0"

    • *6+" Fwtcvkqp<"5"{gctu."ocvwtgf"qp"Lwpg"37."42360"

    • *7+" Eqwrqp"tcvg<"eqwrqp"tcvg"2'0"

    • *8+" Tgrc{ogpv<"C"ukping"rc{ogpv"kp"ecuj"ku"ocfg"hqt"wpeqpxgtvgf"dqpfu"qt"hqt" gzgtekug"qh"rwv"qrvkqpu0"

    • *9+" Kpvgtguv"rc{ogpv<"Pqpg0"

    • *:+" Eqpxgtukqp"rtkeg<"PVF"330:;0"

68"

164

  • ;+" Rwv" qrvkqpu<" Dqpfjqnfgtu" oc{" cum" vjg" Vckejwpi" Dcpm" vq" tgfggo" vjg" hkpcpekcn"dqpfu"cv"vjg"rct"xcnwg"rnwu"c"{kgnf"tcvg"qh"307'"kp"ecuj"ykvjkp"hqtv{" fc{u"dghqtg"vjg"fcvg"cu"qh"yjkej"vjg"eqpxgtvkdng"hkpcpekcn"dqpfu"jcxg"dggp" kuuwgf"hqt"vyq"{gctu"Lwpg"37."4235+0"

  • *32+" Ecnn"qrvkqp<"Htqo"vjg"fcvg"chvgt"ukz"oqpvju"htqo"vjg"kuuwcpeg"fcvg"vq"hqtv{" fc{u" dghqtg" vjg" gzrktcvkqp" fcvg" qh" vjg" eqpxgtvkdng" hkpcpekcn" dqpfu." kh" vjg" coqwpv"qh"wpeqpxgtvgf"dqpfu"ku"nqygt"vjcp"32'"qh"vqvcn"kuuwcpeg"coqwpv" cpf"vjg"enqukpi"rtkegu"qh"eqooqp"ujctgu"qh"Vckejwpi"Dcpm"gzeggf"52'"qh" vjg" ewttgpv" eqpxgtukqp" rtkeg" hqt" eqpugewvkxg" vjktv{" dwukpguu" fc{u." vjg" Vckejwpi" Dcpm" oc{" tgecnn" qwvuvcpfkpi" dqpfu" cv" vjg" fgpqokpcvkqp" qh" vjg" dqpfu"kp"ecuj0"

  • 50" The conversion procedure for the Taichung Bank’s first domestic unsecured eqpxgtvkdng"hkpcpekcn"dqpfu"ku"uwooctk|gf"cu"hqnnqyu<"

  • *3+" Wpfgtn{kpi"uvqem<"

Eqooqp" ujctgu" qh" vjg" Vckejwpi" Dcpm0" Vjg" eqpxgtukqp" ku" ocfg" d{" kuuwcpeg"qh"pgy"ujctgu0"

  • *4+" Eqpxgtukqp"rgtkqf<"

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  • *5+" Rtqegfwtgu"vq"cum"hqt"eqpxgtukqp<"

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85"

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  • 40" Vgejpkswgu"hqt"hckt"xcnwg"cuuguuogpv" "

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  • *3+" Tgxkgy"qh"tkum"ocpcigogpv"rtqlgevu0"

  • *4+" Vjg"tgxkgy"cpf"fkuewuukqp"qp"tkum"nkokv"

  • *5+" Tgxkgy"qh"oqvkqpu"hqt"kpuvkvwvkqpcnk|cvkqp"qh"tkum"ocpcigogpv0"

  • *6+" Rgtkqfkecn"tgrqtv"vq"vjg"Dqctf0"

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  • 30" Octmgv"Tkum"

  • *3+" Uqwteg"cpf"fghkpkvkqp"qh"octmgv"tkum"

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  • *4+" Octmgv"tkum"ocpcigogpv"rqnke{"

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:2"

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  • *5+" Octmgv"tkum"ocpcigogpv"rtqeguu"

C0"Kfgpvkhkecvkqp"cpf"Ogcuwtgogpv"

Dghqtg" vjg" rtqoqvkqp" cpf" qrgtcvkqp" qh" pgy" rtqfwevu." dwukpguu" cevkxkvkgu." rtqeguugu" cpf" u{uvgou." vjg" tgngxcpv" octmgv" tkum" ujqwnf" dg" cuuguugf"vjtqwij"crrtqrtkcvg"rtqegfwtgu"cpf"fgvgtokpg"yjgvjgt"vjg"tkum" gzrquwtg"ku"ykvjkp"vjg"tcpig"qh"tkum"vqngtcpeg"kpenwfgf"hqt"eqpukfgtcvkqp0" The consolidated company’s responsible business units shall"wug"dwukpguu" cpcn{uku"qt"rtqfwev"cpcn{uku"vq"xgtkh{"vjg"uqwteg"qh"octmgv"tkum"cpf"fghkpg" octmgv" tkum" hcevqtu" hqt" gcej" hkpcpekcn" kpuvtwogpv" cu" crrtqrtkcvg" urgekhkecvkqpu0"

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D0"Oqpkvqtkpi"cpf"tgrqtvkpi"

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*6+" Kpvgtguv"tcvg"tkum"

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D0"Ogcuwtgogpv"ogvjqfu"cpf"ocpcigogpv"rtqegfwtgu"

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*7+" Gzejcpig"tcvg"tkum"

:3"

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D0"Ogcuwtgogpv"ogvjqfu"cpf"ocpcigogpv"rtqegfwtgu"

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  • *8+" Gswkv{"ugewtkvkgu"rtkeg"tkum"

  • C0"Fghkpkvkqp"qh"gswkv{"ugewtkvkgu"rtkeg"tkum"

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D0"Ogcuwtgogpv"ogvjqfu"cpf"ocpcigogpv"rtqegfwtgu"

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  • *9+" Octmgv"tkum"ugpukvkxkv{"cpcn{uku"

Kpvgtguv"tcvg"tkum

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Gzejcpig"tcvg"tkum

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:4"

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C+-D+-E+

Pgv
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korcktogpv
Ykvjqwv
kpfkxkfwcn
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gxkfgpegqh
korcktogpv
Kvgouqpvjguvcvgogpv
Tgegkxcdng
Etgfkvectf
&
328.4:4
&
325.78;
&
;;.:7:
&
435.276
&
744.985
&
56.839
&
45.7:4
&
7:2.;84
&
36.338
&
5.428
&
785.862
Qvjgtu

::.::9.7;6

53;.6;:

;:.:75

7.328.888

;6.634.833

33:.53:

7:4.;95

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39:.68:

:2.579

;6.:77.299
Fkueqwpvucpfnqcpu
398.6;9.946
348.979.27:

72.989.98:

42.:76.93;
596.:99.48;

7.559.734

;.7;3.3;4
5:;.:27.;95

3.9:2.;34

4.238.438
5:8.22:.:67
D0Vjgetgfkvswcnkv{analysis on the consolidated company’spqv/qxgtfwgkorcktogpv/htggfkueqwpvucpfnqcpufgrgpfuqpvjgetgfkvswcnkv{qh
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Pqv/qxgtfwgkorcktgf/htggrqukvkqpcoqwpv
Fgegodgt53.4237
Ngxgn3
Ngxgn4
Ngxgn5
Ngxgn6
Vqvcn
Eqpuwogtdcpmkpi
Tgukfgpvkcnoqtvicignqcpu
& 38.329.784
& 3:.224.29:
& 34.529.:;2
&
6.956.3:7
& 73.373.937
Ecujectf
/
/
46
53;
565
Uocnnetgfkvnqcpu
88.79;
35;.787
364.26;
;4.4;4
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8:.659.47;
57.227.392
34.444.539
5.822.;46
33;.487.892
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5.4:6.858

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6:6.746

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77.25;.;;6

47.378.:26

:.854.887
398.947.6;;
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87.6:8.892
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5.568.333
355.747.262
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53.672.44;

48.647.7:7

8.:;;.888

8.;59.;82

93.935.662

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99.872.774

42.588.;7:

32.4:6.293
427.45:.6:2
Vqvcn
& 3:6.:54.;57
& 354.8;2.768
& 67.745.984
& 3:.;38.958
& 5:3.;85.;9;
Pgv
C+-D+-E+/F+		 &
89:.;58
327.35:.59;
5;5.954.:53		 Pgv
C+-D+-E+/F+		 &
785.862

;6.:77.299
5:8.22:.:67
Crrtqrtkcvgfnquucoqwpv*F+ Ykvjqwv
kpfkxkfwcn
qdlgevkxg
gxkfgpegqh
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6.838

5;.644

3.879.346		 Crrtqrtkcvgfnquucoqwpv*F+ Ykvjqwv
kpfkxkfwcn
qdlgevkxg
gxkfgpegqh
korcktogpv		 &
5.428

:2.579

4.238.438
Ykvjkpfkxkfwcn
qdlgevkxg
gxkfgpegqh
korcktogpv		 &
37.324

35;.9:2

3.:96.877		 Ykvjkpfkxkfwcn
qdlgevkxg
gxkfgpegqh
korcktogpv		 &
36.338

39:.68:

3.9:2.;34
Vqvcn
C+-D+-*E+		 &
8;:.876
327.539.7:3
5;9.486.832		 Vqvcn
C+-D+-*E+		 &
7:2.;84

;7.335.;24
5:;.:27.;95
Korcktgfrqukvkqp
coqwpv*E+		 &
47.373

:29.728

32.276.7;2		 Korcktgfrqukvkqp
coqwpv*E+		 &
45.7:4

7:4.;95

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Qxgtfwg
wpkorcktgf
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5;.;:7

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7.468.263		 Qxgtfwg
wpkorcktgf
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*D+		 &
56.839

33:.53:

7.559.734
Pqv/qxgtfwgkorcktgf/htggrqukvkqpcoqwpv Uwdvqvcn*C+ &
855.73:
326.43;.768
5:3.;85.;9;		 Pqv/qxgtfwgkorcktgf/htggrqukvkqpcoqwpv Uwdvqvcn*C+ &
744.985

;6.634.833
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45;.426

5.772.::;

3:.;38.958		 Ngxgn6 &
435.276

7.328.888

42.:76.93;
Ngxgn5 &
346.693

76.679

67.745.984		 Ngxgn5 &
;;.:7:

;:.:75

72.989.98:
Ngxgn4 &
352.323

467.839
354.8;2.768		 Ngxgn4 &
325.78;

53;.6;:
348.979.27:
Ngxgn3 &
35;.964
322.58:.7:5
3:6.:54.;57		 Ngxgn3 &
328.4:4

::.::9.7;6
398.6;9.946
Fgegodgt53.4237 Kvgouqpvjguvcvgogpv
Tgegkxcdng
Etgfkvectf
Qvjgtu
Fkueqwpvucpfnqcpu		 Fgegodgt53.4236 Kvgouqpvjguvcvgogpv
Tgegkxcdng
Etgfkvectf
Qvjgtu
Fkueqwpvucpfnqcpu

205

Pqv/qxgtfwgkorcktgf/htggrqukvkqpcoqwpv
Fgegodgt53.4236
Ngxgn3
Ngxgn4
Ngxgn5
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Vqvcn
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Tgukfgpvkcnoqtvicignqcpu
& 37.846.4:5
& 3;.226.489
& 35.4;:.687
&
7.833.962
& 75.75:.977
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77;
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3.4:8.874

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454.885

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76.535.;5;

48.6;8.342

32.378.3;4
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45.899.527

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9.559.493

95.:55.:5:

;5.894.;:3

94.665.33;

46.493.86:

32.8;:.749
423.2:8.497
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& 398.6;9.946
& 348.979.27:
& 72.989.98:
& 42.:76.93;
& 596.:99.48;
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C+-D+-E+/
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nquucoqwpv
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8;.637

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3.489.348
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444.8:9

37.:;:

7.77;.5;;

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Korcktgf
rqukvkqp
coqwpv*E+		 &
8;.637

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4.3;:.742
Qxgtfwg wpkorcktgf
rqukvkqp
coqwpv*D+		 &
/

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Pqv/qxgtfwgkorcktgf/htggrqukvkqpcoqwpv Uwdvqvcn*C+ &45.769.597

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Ngxgn5 &
/

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Ngxgn4 &
4;7.728

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Ngxgn3 &45.473.:8;
444.8:9
/
7.42;.972
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Fgegodgt53.4237 Cxckncdng/hqt/Ucng
HkpcpekcnCuugvu
Dqpfkpxguvogpv
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Qvjgtu

206

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C+-D+-E+/
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C+-D+-E+/
F+		 &42.726.:55

429.386

/

3.63:.225

367.8:6

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Crrtqrtkcvgf
nquucoqwpv
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3.467.67;
Vqvcn
C+-D+-*E+		 &42.793.939

429.386

37.53:

3.63:.225

367.8:6

4.329.57:
Korcktgf
rqukvkqp
coqwpv
*E+		 &
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37.53:

/

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4.329.57:
Qxgtfwg wpkorcktgf
rqukvkqp
coqwpv*D+		 &
/

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/

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429.386

/

3.63:.225

367.8:6

/
Ngxgn5 &
/

/

/

/

367.8:6

/
Ngxgn4 &
583.544

/

/

/

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Ngxgn3 &42.365.733
429.386
/
3.63:.225
/
/
Fgegodgt53.4236 Cxckncdng/hqt/Ucng
HkpcpekcnCuugvu
Dqpfkpxguvogpv
Gswkv{kpxguvogpv
Qvjgtu
Jgnf/vq/ocvwtkv{hkpcpekcn
cuugvu
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207

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Vjg" cikpi" cnalysis on the consolidated company’s qxgtfwg" korcktogpv/htgg"hkpcpekcn"cuugvu<"

korcktogpv/htgghkpcpekcncuugvu< korcktogpv/htgghkpcpekcncuugvu< korcktogpv/htgghkpcpekcncuugvu< korcktogpv/htgghkpcpekcncuugvu< korcktogpv/htgghkpcpekcncuugvu< korcktogpv/htgghkpcpekcncuugvu< korcktogpv/htgghkpcpekcncuugvu< korcktogpv/htgghkpcpekcncuugvu< korcktogpv/htgghkpcpekcncuugvu<
Fgegodgt53.4237
Nguuvjcpqpg 3Å5oqpvju
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Tgegkxcdng



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&
49.;36
&
34.293
&		 5;.;:7
Qvjgtu
5:.797
473.;76
4;2.74;
& 88.6:; & 486.247 & 552.736
Fkueqwpvucpfnqcpu



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nqcpu
&
965.42;
&
4.6;:
&		 967.929
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4:
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7.934
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4.487.597
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357.2:5

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3.732.828
Pqp/ugewtgf
792.:35
/
792.:35

4.286.459
39.3:4
4.2:3.63;
& 7.435.838 & 54.647 & 7.468.263
Ugewtgf

3.6;5.646

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Pqp/ugewtgf

792.:35

/


4.286.459

39.3:4

& 7.435.838
&
54.647
&		 Ugewtgf

3.6;5.646

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792.:35

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39.3:4

& 7.435.838
&
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792.:35

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4.286.459

39.3:4

& 7.435.838
&
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&		 Ugewtgf

3.6;5.646

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792.:35

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&
54.647
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792.:35

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& 7.435.838
&
54.647
&		 Ugewtgf

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792.:35

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4.286.459

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&
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&		 Ugewtgf

3.6;5.646

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792.:35

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4.286.459

39.3:4

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792.:35

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4.286.459

39.3:4

& 7.435.838
&
54.647
&		 Ugewtgf

3.6;5.646

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792.:35

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4.286.459

39.3:4

& 7.435.838
&
54.647
&		 3.732.828
792.:35
4.2:3.63;
7.468.263
Fgegodgt53.4236
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&
47.537
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39.824
322.938
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& 64.;39 & 332.23: & 374.;57
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33
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4.988.:98
& 7.52:.768 & 4:.;88 & 7.559.734

;2"

208

50" Nkswkfkv{"Tkum"

The Taichung Commercial Bank’s Liquidity Ratios on December 31, 2015 and 2014 were both 25% and 20%. The Bank’s capital and working fwpfu" ctg" uwhhkekgpv"vq" rgthqto" cnn" eqpvtcevwcn" qdnkicvkqpu0" Vjgtghqtg." vjgtg" ku" pq"nkswkfkv{" tkum"ctkukpi"htqo"vjg"hcknwtg"vq"tckug"hwpfu"vq"rgthqto"eqpvtcevwcn"qdnkicvkqpu0"Kv"ku" xgt{"wpnkmgn{"vjcv"vjg"hkpcpekcn"fgtkxcvkxgu"jgnf"d{"vjg"Dcpm"eqwnf"pqv"dg"uqnf"cv"c" tgcuqpcdng"rtkeg"qp"vjg"octmgv0"Vjgtghqtg."vjgtg"ku"nqy"nkswkfkv{"tkum"hqt"tgcnk|cvkqp0" The Taichung Bank’s basic management policy is to coordinate the maturity date qh"cuugvu"cpf"nkcdknkvkgu"cpf"kpvgtguv"tcvgu"cpf"vq"eqpvtqn"icru0"

Vjg"Vckejwpi"Eommercial Bank’s basic operating management policy is to ocvej"wr"cuugvu"cpf"nkcdknkvkgu"ocvwtkv{"cpf"kpvgtguv"tcvg"cpf"eqpvtqn"vjg"wpocvejgf" icr0" Fwg" vq" vjg" wpegtvckpv{" cpf" encuukhkecvkqp" qh" vtcfg" eqpfkvkqpu." vjg" ocvwtkv{" fcvg"qh"cuugvu"cpf"nkcdknkvkgu"cpf"kpvgtguv"tcvg"ctg"wuwcnn{"pqv"hwnn{"ocvejgf"wr="vjku" icr"oc{"ecwug"c"rqvgpvkcn"ickp"qt"nquu0"

Pqp/fgtkxcvkxg"hkpcpekcn"nkcdknkvkgu"ocvwtkv{"cpcn{uku

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dcncpegujggv0
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q
v
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n
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dcpmu
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tgokvvcpegu
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5.322.7:5

54:.594

43.327

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5.859.89:

6:.468.25;

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325.647

:66.:;7

42.:38

495.6:6

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96.457.989

422.222

323.;:9		 &
952

877.783

5;.4:8

/

448.2;6

96.724.2;:

3.:22.222

439.2;9		 &
87;.588

3.353.;7;

;8.:75

/

393.538
347.93:.279

4.622.222

34.:92		 &
/

393.889

3.6;9

/

4;9.7:6
3:4.384.23:

33.722.222

92.487		 &
5.:86.326

5.354.676

39;.779

495.6:6

7.3:3.448
726.:85.;9;

37.;22.222

759.4:7
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q
v
c
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qvjgtdcpmu
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dcpmu
Hkpcpekcnnkcdknkvkgucvhckt
xcnwgvjtqwijrtqhkvcpf
nquu
Dknnucpfdqpfuuqnfwpfgt
tgrwtejcugcitggogpvu
Rc{cdngu
EwttgpvVczNkcdknkv{
Ewuvqogtfgrqukvucpf
tgokvvcpegu
Hkpcpekcndqpfurc{cdng
Qvjgtocvwtgfecrkvcn
qwvhnqykvgou		 &
9.633.679

6:2.;99

66.247

495.:;:

7.799.247

/

66.27;.:88

/

345.9:6		 &
4.366.897

3.338.:93

52.98:

/

;89.;42

/

8:.344.;2;

/

394.863		 &
539.282

92;.;84

49.357

/

634.333

43:.;67

86.89:.:44

/

354.564		 &
:46.3;7

969.8:2

46.722

/

3;9.:7;

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342.6:7.6:5

/

:8.66:		 &
/

666.692

8.;54

/

42:.966

/
37:.83;.266

36.622.222

369.6:6		 & 32.8;9.5:9

5.6;;.;82

355.582

495.:;:

9.585.87;

43:.;67
677.;88.346

36.622.222

884.8;;

Fgtkxcvkxg"hkpcpekcn"nkcdknkvkgu"ocvwtkv{"cpcn{uku"

  • *3+" Fgtkxcvkxg"kpuvtwogpvu"engctgf"cpf"ugvvngf"cv"pgv"xcnwg"

The consolidated company’u"fgtkxcvkxgu"vjcv"ctg"ugvvngf"cpf"engctgf"cv" pgv"xcnwg"kpenwfg<"

Hqtgkip"gzejcpig"fgtkxcvkxgu<"Gzejcpig"tcvg"qrvkqpu"

;3"

209

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Fgegodgt53.4237 2vq52fc{u 53vq;2fc{u ;3vq3:2fc{u 3:3fc{uvq3{gct Oqtgvjcp3{gct Vqvcn
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fgtkxcvkxgu		 &
/		 &
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76.636		 &
85.894		 &
35.29;		 &
353.387
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/		 &
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76.636		 &
85.894		 &
35.29;		 &
353.387
Fgegodgt53.4236 2vq52fc{u 53vq;2fc{u ;3vq3:2fc{u 3:3fc{uvq3{gct Oqtgvjcp3{gct Vqvcn
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fgtkxcvkxgu		 &
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7.;74		 &
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88.52;

*4+" Fgtkxcvkxgu"engctgf"cpf"ugvvngf"cv"vqvcn"xcnwg"

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Fgegodgt53.4237 2vq52fc{u 53vq;2fc{u ;3vq3:2fc{u 3:3fc{uvq3{gct Oqtgvjcp3{gct Vqvcn
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;.9:8.393		 &
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3.97;.4:9		 &
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/Ecujqwvhnqy
/Ecujkphnqy		 &
5.965.423

5.8::.367		 &
4.794.9:2

4.75;.6:3		 &
:44.:28

9;9.3;5		 &
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43.798		 &
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;4"

210

  • 60" Vjg"ocvwtkv{"cpcn{uku"qh"kvgou"pqv"qp"vjg"uvcvgogpv<

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dcncpegujggv0
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4.388.687

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  • 70" Ecuj"hnqy"tkum"guvkocvgf"wpfgt"kpvgtguv"tcvg"ejcpigu"

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;5"

211

Fgegodgt53.4237 Fgegodgt53.4237 Fgegodgt53.4237 Fgegodgt53.4237
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Fgegodgt53.4236 Fgegodgt53.4236 Fgegodgt53.4236 Fgegodgt53.4236
Ecvgiqt{qhhkpcpekcn
cuugvu		 Dqqmxcnwgqh
vtcpuhgttgf
hkpcpekcncuugvu		 Dqqmxcnwgqh
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T1Rcitggogpv		 & 4;8.:;8 & 495.795 & 4;8.:;8 & 495.795 &
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T1Rcitggogpv		 / / / / /

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;6"

212

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dcffgdv		 3.64:.283 4.5:7.588 :99.4;2 8.973 67.263 892.94: 335.339 7.748.576 Cnnqycpeghqt
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*Pqvg4+		 207:' 204:' 2055' 3054' 2089' 2032' 2032' 2056' PRNtcvg 3068' /
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eqxgtcigtcvg		 529082' /
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213

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  • Pqvg"5<" Cnnqycpeg" hqt" dcf" fgdv" eqxgtcig" tcvg?cnnqycpeg" hqt" dcf" fgdv" rtqxkfgf" hqt" nqcpu1PRN"coqwpv="cnnqycpeg"hqt"dcf"fgdv"eqxgtcig"tcvg"hqt"tgegkxcdng"ceeqwpvu"qh" etgfkv" ectfu?cnnqycpeg" hqt" dcf" fgdv" rtqxkfgf" hqt" tgegkxcdng" ceeqwpvu" qh" etgfkv" ectfu1PRN"coqwpv0"

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  • Pqvg"8<" “Others” for Personal banking refer to the secured or non/ugewtgf"eqpuwogt"nqcpu" qvjgt"vjcp"“residential"oqtvicig"loans”, “cash"ectf"loans”"cpf"“small credit loans”, gzenwukxg"qh"etgfkv"ectfu"nqcpu0"

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;8"

214

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: ItqwrJ
232:;4Pqqfngrtqfwevu
ocpwhcevwtkpi		 3.977.742 605;'
; ItqwrK
237323Ekxkncktvtcpurqtvcvkqp		 3.494.929 503;'
32 ItqwrL
238922Tgcnguvcvgfgxgnqrogpv
kpfwuvt{		 3.42:.772 5025'

Fgegodgt"53."4236"

Wpkv<"PVF"vjqwucpf"

Tcpm
*Pqvg3+		 Dwukpguuv{rgqheqorcp{qtitqwr
*Pqvg4+		 Vqvcndcncpegqh
nqcp
*Pqvg5+		 Rgtegpvcigqh
pgvxcnwgcuqh
Fgegodgt53.
4236
3 ItqwrC
238922Tgcnguvcvgfgxgnqrogpv
kpfwuvt{		 & 5.:39.967 3208:'
4 ItqwrD
237732Ujqtv/vgtoceeqooqfcvkqp
ugtxkeg		 5.462.677 ;028'
5 ItqwrM
234633KtqpcpfuvggnOcpwhcevwtkpi		 4.975.33: 9092'
6 ItqwrH
2377;2Qvjgtceeqooqfcvkqpugtxkeg		 4.585.9:2 8083'

*Eqpvkpwgf"qp"pgzv"rcig+"

;9"

215

*Eqpvkpwgf"htqo"rtgxkqwu"rcig+"

Tcpm
*Pqvg3+		 Dwukpguuv{rgqheqorcp{qtitqwr
*Pqvg4+		 Vqvcndcncpegqh
nqcp
*Pqvg5+		 Rgtegpvcigqh
pgvxcnwgcuqh
Fgegodgt53.
4236
7 ItqwrN
233:32OcpwhcevwtgtqhEjgokecn
ocvgtkcnu		 & 4.222.222 707;'
8 ItqwrJ
232:;4Pqqfngrtqfwevu
ocpwhcevwtkpi		 3.:55.;;5 7035'
9 ItqwrK
237323Ekxkncktvtcpurqtvcvkqp		 3.742.892 6047'
: ItqwrI
234852OcpwhcevwtgtqhRED		 3.693.595 6033'
; ItqwrE
236322EqpuvtwevkqpGpikpggtkpi		 3.676.;27 6029'
32 ItqwrO
237323Ekxkncktvtcpurqtvcvkqp		 3.55;.346 5097'

  • Pqvg"3<" Vjg" vqr" vgp" gpvgtrtkugu" qvjgt" vjcp" rwdnke" qt" uvcvg" gpvgtrtkugu" ygtg" kfgpvkhkgf" ceeqtfkpi" vq" tcpm" qh" vjg" vqvcn" dcncpeg" qh" nqcpu" vq" vjgug" gpvgtrtkugu0" Kh" vjg" ceeqwpv" tghgtu" vq" c" itqwr." vjg" nqcp" vq" vjg" itqwr" ujqwnf" dg" kfgpvkhkgf" cpf" summed up, and disclosed in the form of “code” and “business type”. In the ecug" qh" itqwr." vjg" dwukpguu" v{rg" qh" vjg" itqwr" ykvj" vjg" oczkowo" gzrquwtg" should be disclosed. The business type shall be specified in “detailed item” ceeqtfkpi" vq" vjg" dwukpguu" encuukhkecvkqp" fghkpgf" d{" Fktgevqtcvg" Igpgtcn" qh" Dwfigv." Ceeqwpvkpi" cpf" Uvcvkuvkeu" g0i0" Eqorcp{" Itqwr+" C." tgcn" guvcvg" fgxgnqrogpv+0"

  • Pqvg"4<" The enterprises mean those defined in Article 6 of “Supplementary Rules of TSEC’s Criteria for Reviewing Listing of Marketable Securities”.

  • Pqvg"5<" Vjg" dcncpeg" qh" vqvcn" etgfkv" gzvgpukqp" ogcpu" vjg" vqvcn" dcncpeg" qh" vjg" xctkqwu" nqcpu" *kpenwfkpi" korqtv" pgiqvkcvkqp." gzrqtv" pgiqvkcvkqp." fkueqwpv." qxgtftchv." ujqtv/vgto" nqcpu." ujqtv/vgto" ugewtgf" nqcpu." tgegkxcdng" ugewtkvkgu" hkpcpekpi." okf/vgto" nqcpu." okf/vgto" ugewtgf" nqcpu." nqpi/vgto" nqcpu." nqpi/vgto" ugewtgf" nqcpu." Fgnkpswgpv" nqcpu+." kpyctf" tgokvvcpegu." hcevqtkpi" ykvjqwv" tgeqwtug." Ceegrvcpegu"tgegkxcdng"cpf"iwctcpvgg"rc{ogpvu0"

;:"

216

*5+" Kpvgtguv"tcvg"ugpukvkxkv{"kphqtocvkqp"

Kpvgtguv"tcvg"ugpukvkxkv{"cuugvu"cpf"nkcdknkvkgu"cpcn{uku"fcvc"*PVF+"

Fgegodgt"53."4237"

Wpkv<"PVF"vjqwucpf."'"

Kvgo 3vq;2fc{u
*kpenwukxg+		 ;3vq3:2fc{u
*kpenwukxg+		 3:3fc{uvq3
{gct
*kpenwukxg+		 Qxgt3{gct Vqvcn
Kpvgtguvtcvg
ugpukvkxkv{cuugvu		 638.958.::; 33.454.546 36.256.996 7:.329.245 722.333.232
Kpvgtguvtcvg
ugpukvkxkv{nkcdknkvkgu		 347.32;.665 496.;;4.9:7 83.4:6.67; 36.596.698 697.983.385
Kpvgtguvtcvg
ugpukvkxkv{icr		 4;3.849.668 *485.982.683+ * 69.46;.8:7+ 65.954.769 46.56;.:69
Gswkv{ 5;.;67.;:;
Kpvgtguvtcvgugpukvkxkv{cuugvucpfnkcdknkvkgutcvg 327034'
Kpvgtguvtcvgugpukvkxkv{icrcpfpgvyqtvjtcvg 820;8'

Fgegodgt"53."4236"

Wpkv<"PVF"vjqwucpf."'"

Kvgo 3vq;2fc{u
*kpenwukxg+		 ;3vq3:2fc{u
*kpenwukxg+		 3:3fc{uvq3
{gct
*kpenwukxg+		 Qxgt3{gct Vqvcn
Kpvgtguvtcvg
ugpukvkxkv{cuugvu		 58;.955.55:
;.848.39;		 39.;;5.9:5 82.;44.695 67:.497.995
Kpvgtguvtcvg
ugpukvkxkv{nkcdknkvkgu		 34:.4:7.4;9 463.967.429 77.;66.:;4 34.927.:2: 65:.8:3.426
Kpvgtguvtcvg
ugpukvkxkv{icr		 463.66:.263 *454.33;.24:+ * 59.;73.32;+ 6:.438.887 3;.7;6.78;
Gswkv{ 57.978.679
Kpvgtguvtcvgugpukvkxkv{cuugvucpfnkcdknkvkgutcvg 326069'
Kpvgtguvtcvgugpukvkxkv{icrcpfpgvyqtvjtcvg 760:2'

  • Pqvg<"30" Vjg"vcdng"urgekhkgu"vjg"coqwpv"kp"PVF"*gzenwukxg"qh"hqtgkip"ewttgpekgu+"qh" Vckejwpi"Dcpm"Jgcf"Qhhkeg"cpf"nqecn"dtcpejgu0"

  • 40" Kpvgtguv"tcvg"ugpukvkxkv{"cuugvu"cpf"nkcdknkvkgu"ogcp"vjg"cuugvu"cpf"nkcdknkvkgu" ykvj"kpvgtguv"qh"yjkej"vjg"kpeqog"qt"equv"xctkgu"fgrgpfkpi"qp"vjg"kpvgtguv" tcvg0"

  • 50" Kpvgtguv" tcvg" ugpukvkxkv{" icr?Kpvgtguv" tcvg" ugpukvkxkv{" cuugvu" /" Kpvgtguv" tcvg" ugpukvkxkv{"nkcdknkvkgu0"

  • 60" Kpvgtguv" tcvg" ugpukvkxkv{" cuugvu" cpf" nkcdknkvkgu" tcvg?Kpvgtguv" tcvg" ugpukvkxkv{" cuugvu"‰"kpvgtguv"tcvg"ugpukvkxkv{"nkcdknkvkgu"*k0g0"kpvgtguv"tcvg"ugpukvkxkv{"cuugvu" cpf"kpvgtguv"tcvg"ugpukvkxkv{"nkcdknkvkgu"kp"PVF+0"

;;"

217

Kpvgtguv"tcvg"ugpukvkxkv{"cuugvu"cpf"nkcdknkvkgu"cpcn{uku"fcvc"*WUF+"

Fgegodgt"53."4237"

Kpvgtguvtcvgugpukvkxkv{cuugvucpfnkcdknkvkgucpcn{ukufcvc*WUF+
Fgegodgt53.4237		 Kpvgtguvtcvgugpukvkxkv{cuugvucpfnkcdknkvkgucpcn{ukufcvc*WUF+
Fgegodgt53.4237		 Kpvgtguvtcvgugpukvkxkv{cuugvucpfnkcdknkvkgucpcn{ukufcvc*WUF+
Fgegodgt53.4237		 Kpvgtguvtcvgugpukvkxkv{cuugvucpfnkcdknkvkgucpcn{ukufcvc*WUF+
Fgegodgt53.4237		 Kpvgtguvtcvgugpukvkxkv{cuugvucpfnkcdknkvkgucpcn{ukufcvc*WUF+
Fgegodgt53.4237		 Kpvgtguvtcvgugpukvkxkv{cuugvucpfnkcdknkvkgucpcn{ukufcvc*WUF+
Fgegodgt53.4237
Wpkv<WUFvjqwucpf='
Kvgo 3vq;2fc{u
*kpenwukxg+		 ;3vq3:2fc{u
*kpenwukxg+		 3:3fc{uvq3
{gct
*kpenwukxg+		 Qxgt3{gct Vqvcn
Kpvgtguvtcvg
ugpukvkxkv{cuugvu		 8::.4:3
3:3.477
74.8;9
92.695
;;4.928
Kpvgtguvtcvg
ugpukvkxkv{nkcdknkvkgu
5;3.932
786.:36
3:6.936
/
3.363.45:
Kpvgtguvtcvg
ugpukvkxkv{icr		 4;8.793 *
5:5.77;+		 *
354.239+
92.695		 *
36:.754+
Gswkv{ 3.438.975
Kpvgtguvtcvgugpukvkxkv{cuugvucpfnkcdknkvkgutcvg :80;;'
Kpvgtguvtcvgugpukvkxkv{icrcpfpgvyqtvjtcvg *
34043'+

Fgegodgt"53."4236"

Wpkv<"WUF"vjqwucpf="'"

Kvgo 3vq;2fc{u
*kpenwukxg+		 ;3vq3:2fc{u
*kpenwukxg+		 3:3fc{uvq3
{gct
*kpenwukxg+		 Qxgt3{gct Vqvcn
Kpvgtguvtcvg
ugpukvkxkv{cuugvu		 896.;24
486.;:9
/
38.39:
;78.289
Kpvgtguvtcvg
ugpukvkxkv{nkcdknkvkgu
5:2.288
5;2.:4;
362.949
/
;33.844
Kpvgtguvtcvg
ugpukvkxkv{icr		 4;6.:58 *
347.:64+		 *
362.949+
38.39:
66.667
Gswkv{ 3.352.575
Kpvgtguvtcvgugpukvkxkv{cuugvucpfnkcdknkvkgutcvg 3260::'
Kpvgtguvtcvgugpukvkxkv{icrcpfpgvyqtvjtcvg 50;5'

  • Pqvg<"30" Vjg"vcdng"urgekhkgu"vjg"vqvcn"coqwpv"kp"WUF"qh"Vckejwpi"Dcpm"Jgcf"Qhhkeg" cpf" nqecn" dtcpejgu." Kpvgtpcvkqpcn" Dcpmkpi" Dtcpej" cpf" qhhujqtg" dtcpejgu." gzenwukxg"qh"eqpvkpigpv"cuugvu"qt"nkcdknkvkgu0"

  • 40" Kpvgtguv"tcvg"ugpukvkxkv{"cuugvu"cpf"nkcdknkvkgu"ogcp"vjg"cuugvu"cpf"nkcdknkvkgu" ykvj"kpvgtguv"qh"yjkej"vjg"kpeqog"qt"equv"xctkgu"fgrgpfkpi"qp"vjg"kpvgtguv" tcvg0"

  • 50" Kpvgtguv" tcvg" ugpukvkxkv{" icr?Kpvgtguv" tcvg" ugpukvkxkv{" cuugvu" /" Kpvgtguv" tcvg" ugpukvkxkv{"nkcdknkvkgu0"

  • 60" Kpvgtguv" tcvg" ugpukvkxkv{" cuugvu" cpf" nkcdknkvkgu" tcvg?Kpvgtguv" tcvg" ugpukvkxkv{" cuugvu"‰"kpvgtguv"tcvg"ugpukvkxkv{"nkcdknkvkgu"*k0g0"kpvgtguv"tcvg"ugpukvkxkv{"cuugvu" cpf"kpvgtguv"tcvg"ugpukvkxkv{"nkcdknkvkgu"kp"WUF+0"

322"

218

*6+" Rtqhkvcdknkv{"

Wpkv<"'"

Rtqhkvcdknkv{ Rtqhkvcdknkv{ Wpkv<'
Kvgo Fgegodgt53.4237 Fgegodgt53.4236
TQC Dghqtgvczcvkqp
2096		 20:4
Chvgtvczcvkqp
2085		 2095
TQG Dghqtgvczcvkqp
32097		 3406:
Chvgtvczcvkqp
;03;		 33044
Pgvrtqhkvtcvg 59056 59066

  • Pqvg<"30" TQC"?"Kpeqog"dghqtg"*chvgt+"vczcvkqp1Cxgtcig"vqvcn"cuugvu"

    • 40" TQG?Kpeqog"dghqtg"*chvgt+"vczcvkqp"1"Cxgtcig"pgv"yqtvj"

    • 50" Rtqhkv"*nquu+"tcvg"?"Kpeqog"chvgt"vczcvkqp1kpeqog/pgv"

    • 60" Kpeqog"dghqtg"*chvgt+"vczcvkqp"ogcpu"vjg"kpeqog"ceewowncvgf"htqo"Lcpwct{" qh"vjg"ewttgpv"{gct"wpvkn"vjg"ewttgpv"swctvgt"

  • *7+" Cpcn{uku"qp"ocvwtkv{"qh"cuugvu"cpf"nkcdknkvkgu"

Vcdng"qh"cpcn{uku"qh"ocvwtkv{"uvtwevwtg"qh"PVF"

Fgegodgt"53."4237"

Wpkv<"PVF"vjqwucpf"

Vqvcn Tgockpkpidcncpegvqocvwtkv{ Tgockpkpidcncpegvqocvwtkv{ Tgockpkpidcncpegvqocvwtkv{ Tgockpkpidcncpegvqocvwtkv{
2vq32fc{u 33vq52fc{u 53vq;2fc{u ;3vq3:2fc{u 3:3fc{uvq3
{gct		 Oqtgvjcp3
{gct
Ockpecrkvcnkphnqy
wrqpocvwtkv{		 757.498.927 86.36;.96; 7:.67:.223 49.:24.237 66.956.7:3 9:.658.;39 483.8;7.664
Ockpecrkvcnqwvhnqy
wrqpocvwtkv{		 84;.882.384 43.:53.94: 62.2:2.232 :;.:9;.389 32:.478.549 35;.44:.837 452.5:6.537
Icr * ;6.5:5.679+ 64.53:.243 3:.599.;;3 * 84.299.374+ * 85.743.968+ * 82.9;3.8;:+ 53.533.349

Fgegodgt"53."4236"

Wpkv<"PVF"vjqwucpf"

Vqvcn Tgockpkpidcncpegvqocvwtkv{ Tgockpkpidcncpegvqocvwtkv{
2vq32fc{u 33vq52fc{u 53vq;2fc{u ;3vq3:2fc{u 3:3fc{uvq3
{gct		 Oqtgvjcp3
{gct
Ockpecrkvcnkphnqy
wrqpocvwtkv{		 6;5.897.225
77.2:5.:75
68.53;.482
49.289.947
63.757.847
8;.537.::8		 476.574.876
Ockpecrkvcnqwvhnqy
wrqpocvwtkv{		 7:9.9:6.:34
52.758.633
55.522.:6;
:7.862.38:
;:.;::.;69		 355.973.435 427.789.446
Icr *
;6.32;.:2;+
46.769.664
35.23:.633		 *
7:.794.665+		 *
79.675.544+		 *
86.657.549+
6:.9:7.652

Pqvg<"Vjg"vcdng"qpn{"urgekhkgu"vjg"coqwpv"kp"PVF"*gzenwukxg"qh"hqtgkip"ewttgpekgu+"qh" Vckejwpi"Dcpm"Jgcf"Qhhkeg"cpf"nqecn"dtcpejgu0"

Cpcn{uku"qh"ocvwtkv{"uvtwevwtg"qh"WUF" "

Fgegodgt"53."4237"

Wpkv<"WUF"vjqwucpf"

Vqvcn Tgockpkpidcncpegvqocvwtkv{ Tgockpkpidcncpegvqocvwtkv{ Tgockpkpidcncpegvqocvwtkv{ Tgockpkpidcncpegvqocvwtkv{ Tgockpkpidcncpegvqocvwtkv{
2vq52fc{u 53vq;2fc{u ;3vq3:2
fc{u		 3:3fc{uvq3
{gct		 Oqtgvjcp3
{gct
Ockpecrkvcnkphnqy
wrqpocvwtkv{		 3.579.698
546.6:8
455.95;
432.74:
363.892		 669.275
Ockpecrkvcnqwvhnqy
wrqpocvwtkv{		 3.;24.678
584.5::
687.9::
544.66;
859.:62		 335.;;3
Icr *
766.;:2+		 *
59.;24+		 *
454.26;+		 *
333.;43+		 *
6;8.392+		 555.284

Fgegodgt"53."4236"

323"

219

Wpkv<"WUF"vjqwucpf"

Vqvcn Tgockpkpidcncpegvqocvwtkv{ Tgockpkpidcncpegvqocvwtkv{ Tgockpkpidcncpegvqocvwtkv{ Tgockpkpidcncpegvqocvwtkv{
2vq52fc{u 53vq;2fc{u ;3vq3:2
fc{u		 3:3fc{uvq3
{gct		 Oqtgvjcp3
{gct
Ockpecrkvcnkphnqy
wrqpocvwtkv{		 3.365.:36
3;7.46;
462.643
482.526
48.:28
643.256
Ockpecrkvcnqwvhnqy
wrqpocvwtkv{		 3.854.693
582.552
5;2.;42
45:.329
744.297
343.25;
Icr *
6::.879+		 *
387.2:3+		 *
372.6;;+
44.3;9		 *
6;7.48;+
4;;.;;7

  • Pqvg<"30" Vjg"vcdng"urgekhkgu"vjg"vqvcn"coqwpv"kp"WUF"qh"Vckejwpi"Dcpm"Jgcf"Qhhkeg." nqecn"dtcpejgu"cpf"Kpvgtpcvkqpcn"Dcpmkpi"Dtcpej0"Wpnguu"qvjgtykug"rtqxkfgf." kv"ujcnn"dg"uvcvgf"cv"vjg"Dqqm"Xcnwg."cpf"kv"ku"pqv"pgeguuct{"vq"kpenwfg"cp{" ceeqwpvu" vjcv" ctg" pqv" uvcvgf" kp" vjg" vcdng" *g0i0" pgiqvkcdng" egtvkhkecvgu" qh" fgrqukv."dqpfu"qt"uvqemu"uejgfwngf"vq"dg"kuuwgf+0"

  • 40" Where offshore assets account for more than 10% of the Bank’s total assets, kv"ku"pgeguuct{"vq"rtqxkfg"uwrrngogpvct{"fkuenquwtg0"

630" Ecrkvcn"ocpcigogpv

  • *3+" The consolidated company’u"gnkikdng"rtgrctcvqt{"ecrkvcn"ujqwnf"dg"uwhhkekgpv"vq"oggv"vjg" ngicn" ecrkvcn" tgswktgogpvu." cpf" cejkgxg" vjg" okpkowo" uvcvwvqt{" ecrkvcn"cfgswce{" tcvkq" vjcv"ku"vjg"dcuke"qdlgevkxg"qh"vjg"Company’u"ecrkvcn"ocpcigogpv0"Vjg"crrtqrtkcvkqp"cpf" ecnewncvkqp" qh" vjg" tgngxcpv" gnkikdng" rtqrtkgvct{" ecrkvcn" cpf" uvcvwvqt{" ecrkvcn" ujcnn" dg" jcpfngf"kp"ceeqtfcpeg"ykvj"vjg"tgswktgogpvu"qh"vjg"eqpegtpgf"cwvjqtkvkgu0"

The consolidated company’s capital ocpcigogpv" uvtwevwtg" ku" rtqrgtn{" rncppgf" fgrgpfkpi" qp" vjg" ecrkvcn" octmgv" eqpfkvkqpu." ecrkvcn" kpuvtwogpv" hgcvwtgu." ecrkvcn" korngogpvcvkqp" ghhkekgpe{" cpf" qrgtcvkpi" rgthqtocpeg" kp" qtfgt" vq" ockpvckp" c" tcvkq" qh" rtgrctcvqt{"ecrkvcn"vq"tkum"cuugvu"cdqxg"vjg"vctigv"ngxgn0"

  • *4+" Vjg" eqpuqnkfcvgf" eqorcp{" jcu" vjg" kphqtocvkqp" qh" ecrkvcn" cfgswce{" fkuenqugf" rgtkqfkecnn{"kp"ceeqtfcpeg"ykvj"vjg"tgngxcpv"urgekhkecvkqpu"qh"vjg"eqorgvgpv"cwvjqtkvkgu" cpf"the Company’s kpvgtpcn"qrgtcvkpi"rtqegfwtgu="cnuq."jcu"tgrqtvgf"kv"vq"vjg"eqorgvgpv" cwvjqtkvkgu"swctvgtn{"

Rtqrtkgvct{" ecrkvcn" ku" encuukhkgf" cu" Ecvgiqt{" K" ecrkvcn" cpf" Ecvgiqt{" KK" ecrkvcn" kp" accordance with the “Regulations Governing Bank’s Capital Afgswce{" cpf" Ecrkvcn" Encuukhkecvkqp0”

  • 30" Vkgt"K"ecrkvcn<"Kv"kpenwfgu"vjg"qvjgt"Vkgt"K"ecrkvcn."kpenwfkpi"eqooqp"uvqem"gswkv{" cpf"pqp/eqooqp"uvqem"gswkv{0"

  • *3+" Vjg" ueqrg" qh" eqooqp" uvqem" gswkv{" kpenwfgu" eqooqp" uvqem" cpf" uvqem" rtgokwo."cfxcpegf"ecrkvcn."cffkvkqpcn"rckf/kp"ecrkvcn."ngicn"tgugtxgu."urgekcn" tgugtxgu."vjg"ewowncvkxg"ickp"qt"nquu."pqp/eqpvtqnnkpi"gswkv{"cpf"qvjgt"gswkv{" kvgou0"

  • *4+" Vjg"qvjgt"Vkgt"K"ecrkvcn"qvjgt"vjcp"eqooqp"uvqem"gswkv{"kpenwfgu"rgtrgvwcn" pqp/ewowncvkxg" rtghgttgf" uvqem" cpf" kvu" uvqem" rtgokwo." pqp/ewowncvkxg" uwdqtfkpcvgf" dqpfu" ykvjqwv" ocvwtkv{" fcvg." rgtrgvwcn" pqp/ewowncvkxg" rtghgttgf" uvqemu" kuuued by the Bank’s subsidiary that are not directly or kpfktgevn{" jgnf" d{" vjg" Dcpm" cpf" kvu" uvqem" rtgokwo." cpf" pqp/ewowncvkxg" uwdqtfkpcvgf"dqpfu"ykvjqwv"ocvwtkv{"fcvg0"

  • 40" Vkgt"KK"Ecrkvcn<"

Vjg" rtqlgev" ueqrg" kpenwfgu" rgtrgvwcn" ewowncvkxg" rtghgttgf" ujctgu" cpf" kvu" uvqem"rtgokwo."ewowncvkxg"uwdqtfkpcvgf"dqpfu"ykvjqwv"ocvwtkv{"fcvg."eqpxgtvkdng" uwdqtfkpcvgf" dqpf." nqpi/vgto" uwdqtfkpcvgf" dqpf." pqp/rgtrgvwcn" rtghgttgf" uvqem"

324"

220

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  • 1 -

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Auditor’s Report

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  • 2 -

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  • 3 - 237

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  • 6 -

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DcncpegcuqhFgegodgt53.4236


4:.737.285


8:5.973


4.::7.556


94.:83


5.666.7::


335.745


63.559


57.978.679|
















Vjg4236crrtqrtkcvkqpcpffkuvtkdwvkqpqh|gctpkpiu






|D3
Ngicntgugtxg


/


/


3.295.946


/


3.295.946+


/


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/


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/


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934.:99+


/


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Uvqemfkxkfgpfu


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4237pgvkpeqog


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F5
Qvjgteqortgjgpukxgpgvkpeqogkp4237|chvgtvcz+

/


/


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5.42:.79;


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P3
Ujctg/dcugfrc{ogpvvtcpucevkqpPqvg6|cpfPqvg48+

/


627


/


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\3
DcncpegcuqhFgegodgt53.4237

& 53.:62.249

&
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&
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&
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&
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&
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&
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

241

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Wpkv<"PVF"vjqwucpf"

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C32222
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& 6.289.:54
&		 6.379.:59
Tgxgpwg.gzrgpugcpfnquuvjcvfqpqv
chhgevvjgecujhnqyu

C42322
Fgrtgekcvkqpgzrgpugu

363.32;

357.479
C42422
Coqtvk		 cvkqpgzrgpugu
62.577
53.762
C42522
Crrtqrtkcvkqpqhdcffgdvgzrgpug
8;4.4;4
3.::;.;59
C42622
Ickp*nquu+qphkpcpekcncuugvucpf
nkcdknkvkgucvhcktxcnwgvjtqwij
rtqhkvcpfnquu * 53;.773+ * 32;.67;+
C44722
Fkurqucncpfqduqnguegpegickpqh
rtqrgtv{cpfgswkrogpv * 762+ * ;:+
C42;22
Kpvgtguvgzrgpugu
6.266.4:5
5.:;2.556
C43422
Kpvgtguvtgxgpwg		 * 33.472.483+ * 32.9;2.5:;+
C43522
Fkxkfgpfkpeqog		 * 3;.428+ * 3;.659+
C43:22
Pgvejcpigkpqvjgtrtqxkukqpuhqt
nkcdknkvkgu * :22+
:22
C43;22
Equvqhujctg/dcugfrc{ogpvugtxkeg
627
/
C44622
Vjgrtqhkvqtnquukpvjguwdukfkct{.
chhknkcvgfeqorcp{cpflqkpv
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gswkv{ogvjqf * 472.;:6+ * 497.6::+
C45322
Nquu*ickp+qpfkurqucnqhkpxguvogpvu		 * 37.993+
65
C45722
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C45922
Pqp/hkpcpekcncuugvukorcktogpvnquu
*tgxgtucnickp+
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C46322
Wptgcnk		 gfhqtgkipewttgpe{gzejcpig
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C46522
IckpqpucngqhPRN
/		 * 8:.934+
C46622
Nquuqpfkurqucnqheqnncvgtcn
/
3.657
C42232
Vqvcnkpeqog.gzrgpugcpfnquu
vjcvfqpqvchhgevvjgecuj
hnqyu * 9.28;.976+ * 8.572.:54+
Ejcpigukpqrgtcvkpicevkxkvkgutgncvgf
cuugvu1nkcdknkvkgu

C63332
FwghtqoEgpvtcnDcpmcpfngpfvq
Dcpmu * 3.875.4:6+ * 3.958.32:+
C63342
Hkpcpekcncuugvucvhcktxcnwgvjtqwij
rtqhkvcpfnquu * 39.;84.34:+ * 695.542+
C63372
Ceeqwpvutgegkxcdng
6:6.28:		 * 564.;42+
C63382
Fkueqwpvucpfnqcpu		 * 9.622.783+ * 45.482.283+
C633;2
Qvjgthkpcpekcncuugvu
44:.:;5
38.44:
C63;;2
Qvjgtcuugvu
7.434
32.236
C64332
FwgvqEgpvtcnDcpmcpfqvjgtdcpmu		 * 8.:55.4:5+
4.577.:9;

*Eqpvkpwgf"qp"pgzv"rcig+"

  • 8 -

242

*Eqpvkpwgf"htqo"rtgxkqwu"rcig+"

Eqfg 4237 4237 4237 4237 4237 4237 4236 4236
C64342
Hkpcpekcnnkcdknkvkgucvhcktxcnwg
vjtqwijrtqhkvcpfnquu *& 432.286+ *& 4;2.966+
C64362
Dknnucpfdqpfuuqnfwpfgttgrwtejcug
citggogpvu * 483+ * :7.3;8+
C64372
Rc{cdngu		 * 4.592.22:+
4.9;2.632
C64382
Ewuvqogtfgrqukvucpftgokvvcpegu		 6;.55:.739 48.72;.;27
C64392
Qvjgthkpcpekcnnkcdknkvkgu		 * 3.473+ * 7.;:7+
C643:2
Gornq{ggdgpghkvnkcdknkvkgutgugtxg		 * 34.749+
68.:44
C64;;2
Qvjgtnkcdknkvkgu		 * 32.;23+
47.854
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Vqvcnejcpigukpqrgtcvkpi
cevkxkvkgutgncvgf
cuugvu1nkcdknkvkgu 35.824.644
7.782.778
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Ecujkphnqy*qwvhnqy+htqoqrgtcvkpi
cevkxkvkgu 32.822.722
5.589.783
C55322
Kpvgtguvtgegkxgf		 33.489.825 32.96:.:49
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Fkxkfgpfutgegkxgf
52.722
44.947
C55522
Kpvgtguvrc{ogpv		 * 6.2:4.38;+ * 5.:86.2:7+
C55722
Kpeqogvczrc{ogpv		 * 747.9;;+ * 7:7.642+
CCCC Pgvecujkphnqy*qwvhnqy+htqo
qrgtcvkpicevkxkvkgu 39.4;2.857
;.8:;.82:



Ecujhnqyhtqokpxguvkpicevkxkvkgu


D22522
Ceswkukvkqpqhcxckncdng/hqt/ucnghkpcpekcn
cuugvu * 7.;:;.2:8+ * 4.227.;95+
D22622
Fkurqukvkqpqhcxckncdng/hqt/ucnghkpcpekcn
cuugvu
5.427.634
739.822
D22;22
Ceswkukvkqpqhjgnf/vq/ocvwtkv{hkpcpekcn
cuugvu * 6.682.355+ * :34.;65+
D23222
Fkurqukvkqpqhjgnf/vq/ocvwtkv{hkpcpekcn
cuugvu
/
4.;64.422
D23322
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hkpcpekcncuugvu
672.222
522.222
D23422
Ceswkukvkqpqhhkpcpekcncuugvuqpvjgdcuku
qhequv
/		 * 5.222+
D23622
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hkpcpekcncuugvuecttkgfcvequv
/
979
D23:22
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ogvjqf
/		 * 3.322.222+
D24922
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D24:22
FkurqucnqhRtqrgtv{.rncpv.cpfgswkrogpv
76;
;4:
D25922
Kpetgcugkptghwpfcdngfgrqukvu		 * 37:.8;:+ * 34.472+
D26722
CeswkukvkqpqhKpvcpikdngcuugvu		 * :3.4;3+ * 62.328+
D26922
FkurqucnqhEqnncvgtcnceegrvgf
/
:2:
D28522
Tgegkrvqhrc{ogpvhtqofkurqucnqh
pqp/rgthqtokpinqcpu0
/
565.6;6
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kpxguvkpicevkxkvkgu * 33.556.5:2+ * 3.8:5.97;+



Ecujhnqyhtqohkpcpekpicevkxkvkgu


E22522
FgetgcugkpHwpfudqttqygfhtqoEgpvtcn
Dcpmcpfqvjgtdcpmu
/		 * 4.2:8.222+
E23622
Kuuwcpegqhhkpcpekcndqpfu
3.722.222
/
E23722
Tgrc{ogpvqhhkpcpekcndqpfu
/		 * 6;.;22+
*Eqpvkpwgfqppgzvrcig+
  • 9 -

243

*Eqpvkpwgf"htqo"rtgxkqwu"rcig+"

Eqfg 4237 4237 4237 4237 4236 4236 4236
E26722
Ecujfkxkfgpftgngcugf		 *& 934.:99+ *& 735.779+
E26822
Kuuwcpegqheqooqpuvqemhqtecuj
3.722.222
/
EEEE Pgvecujqwvhnqyhtqohkpcpekpi
cevkxkvkgu
4.4:9.345		 * 4.86;.679+



FFFF
Korcevqhejcpigukpgzejcpigtcvgqpecujcpf
ecujgswkxcngpvu * 68.877+
76.:;3



GGGG
Ewttgpvecujcpfecujgswkxcngpvukpetgcug

:.3;8.945

7.633.4:5



G22322 Dcncpegqhecujcpfecujgswkxcngpvu.dgikppkpi
qhrgtkqf 99.83;.229 94.429.946



G22422 Dcncpegqhecujcpfecujgswkxcngpv.gpfqh
rgtkqf & :7.:37.952 & 99.83;.229
Gpfkpiecujcpfecujgswkxcngpvucflwuvogpv
Eqfg Fgegodgt53.4237 Fgegodgt53.4236
G22432 Ecujcpfecujgswkxcngpvuqpvjgdcncpegujggv & ;.4:7.476 & :.8;7.84:



G22442 The “Due from Central Bank and Banks” in
eqornkcpegykvjvjgfghkpkvkqpqhecujcpf
ecujgswkxcngpvuwpfgtKCU9 8;.758.676 89.59:.23:



G22452 The “bonds and securities sold under repurchase
agreements” that meet the definitions ofecuj
cpfecujgswkxcngpvuwpfgtKCU9
8.;;6.244
3.767.583



G22422 Dcncpegqhecujcpfecujgswkxcngpv.gpfqh
rgtkqf & :7.:37.952 & 99.83;.229

Ejcktocp<"Ejwp/Ujgpi"Ngg" Ocpcigt<"Ejkp/[wcp"Nck" Ejkgh"ceeqwpvcpv<"[k/[kpi"Ejwpi"

  • 10 -

244

Taichung Commercial Bank

==> picture [134 x 182] intentionally omitted <==

Chairman :

==> picture [45 x 44] intentionally omitted <==

Chun-Sheng Lee

總行

==> picture [47 x 47] intentionally omitted <==

臺中市西區民權路8 7 號 電話：0 4 - 2 2 2 3 6 0 2 1 No.87, Min-Chuan Road, Taichung, Taiwan, R.O.C.

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